Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Warburg Pincus sells airline services firm Accelya to Vista

share with twitter share with LinkedIn share with facebook
11/18/2019 | 01:08pm EDT

U.S. buyout fund Warburg Pincus said on Monday that it had clinched a deal to sell its European airline services firm Accelya to rival private equity fund Vista Equity Partners for an undisclosed amount.

The deal, which was first reported by Reuters, allows Warburg Pincus to fully cash out after backing the Barcelona-based company for the past two years.

The U.S. investment firm launched an auction process during the summer to find a new owner for the business which serves more than 200 airlines including British Airways, Lufthansa and EasyJet.

Warburg Pincus bought Accelya from French private equity firm Chequers Capital in 2017 and quickly tripled its revenues by merging it with Mercator, a Dubai-based travel services group in which the U.S. buyout firm had been an investor since 2014.

Vista Partners, whose portfolio is mostly focused on software companies, was recently vying to buy a majority stake in WPP's data analytics firm Kantar but lost it to Bain Capital.

Its Chief Executive Robert Smith said Accelya was "at the forefront of innovation and positioned to shape the airline and travel industry for decades to come."

Accelya employs 2,500 employees across 24 offices in 14 countries and recently signed a long-term deal as the International Air Transport Association's (IATA) technology partner.

Bank of America and Evercore advised Warburg Pincus on the deal while Vista hired Goldman Sachs and Houlihan Lokey to work on the purchase.

Law firm Kirkland & Ellis and Simpson Thacher served as the legal advisors to Warburg Pincus and Vista, respectively.

By Pamela Barbaglia


Stocks mentioned in the article
ChangeLast1st jan.
AT HOME GROUP INC. -2.99% 21.12 Delayed Quote.284.00%
BANK OF AMERICA CORPORATION -2.15% 23.72 Delayed Quote.-32.65%
BYD COMPANY LIMITED -0.93% 128.4 End-of-day quote.230.50%
DEUTSCHE LUFTHANSA AG 5.74% 7.99 Delayed Quote.-51.31%
EASYJET PLC 4.82% 493.4 Delayed Quote.-65.36%
EVERCORE INC. -0.88% 77.72 Delayed Quote.3.96%
HOULIHAN LOKEY, INC. -1.77% 63.21 Delayed Quote.29.34%
IMI PLC -1.17% 1101 Delayed Quote.-6.62%
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A. 4.25% 100 Delayed Quote.-75.87%
JUST GROUP PLC 1.74% 44.48 Delayed Quote.-43.70%
MERCATOR LIMITED 0.00% 0.78 End-of-day quote.8.33%
THE GOLDMAN SACHS GROUP, INC. -0.25% 205.69 Delayed Quote.-10.54%
WILL GROUP, INC. 2.10% 877 End-of-day quote.-29.95%
WPP PLC 0.15% 658.2 Delayed Quote.-38.28%
share with twitter share with LinkedIn share with facebook
Latest news "Economy & Forex"
02:15aANALYSIS : After America First, some investors bet on a Biden boost abroad
RE
02:11aECB would have 1 trillion euros of bonds to buy after axing polluters, study finds
RE
01:56aAsian stocks dip as U.S. political concerns grow
RE
01:52aSERGIO ERMOTTI : UBS quarterly profit doubles, a crescendo for CEO Ermotti's swan song
RE
01:30aFSC FINANCIAL SERVICES COMMISSION OF KOREA : Vice Chairman Stresses Importance of Steady Financial Support for Small Businesses
PU
01:20aDELEGATION OF EUROPEAN UNION TO GEORGIA : EU launches Access2Markets portal to support trade by small businesses
PU
01:18aIndonesia rejected U.S. request to host spy planes - officials
RE
01:18aU.s. uses advanced p-8 aircraft to keep tabs on ships, submarines in south china sea
RE
01:18aIndonesia rejected u.s. request to allow p-8 spy planes to land, refuel there - officials
RE
01:16aNEWS HIGHLIGHTS : Top Global Markets News of the Day
DJ
Latest news "Economy & Forex"