The Italian travel management company Uvet Viaggi Turismo has acquired the Swedish travelling portal Flygpoolen. Bird & Bird has assisted the sellers together with Avantus Corporate Finance.
Flygpoolen was established in 1998 and today cooperates with close to 500 airlines, 20 car-rental companies and 50 000 hotels worldwide. The main business areas are e-commerce, sales towards travel agencies and group and conference travel. In 2012 the company had a turnover of MSEK 742 and close to 200 000 travellers travelled with Flygpoolen.
Uvet Viaggi Turismo is part of the Uvet group that offers national and international leisure and business travel services. The group's network consists of approximately 1300 travel agencies, which makes it one of the largest networks within the tourism segment in Italy. During 2012, the group had a turnover of approximately 2.2 billion EUR.
The Bird & Bird team was led by partner Hans Svensson and consisted of Anna Holm, with the assistance of Anna Gustafsson, Marcus Erneholm and Tim Boström.
The sellers will continue to develop Flygpoolen within the Uvet group. Patric Wagenknecht, one of the sellers and board member in Flygpoolen, comments:
– The acquisition by Uvet, and the network and experience that we will be able to draw from, is an exciting opportunity for us to continue to develop Flygpoolen's business in a larger Pan-European context. Bird & Bird and Aventus have done a fantastic job in effectively identifying and solving the issues that have arisen during the process, which has been greatly appreciated by us as well as the buyers.
For more information please contact:
Hans Svensson, partner Bird & Bird & Bird, +46 8 506 320 48, [email protected]
Fredrika Ahnborg, Marketing & PR Bird & Bird, +46 8 501 097 21, [email protected]