eDreams Odigeo Welcomes Investment Firm Stake

European online travel agency (OTA) eDreams Odigeo has announced that Permira, a global investment firm, has acquired a partial stake in the company. This transaction involves Permira purchasing shares from Searchlight Capital Partners, which previously held a private equity investment in eDreams Odigeo.

The strategic investment by Permira is aimed at supporting eDreams Odigeo’s future growth strategy. A primary focus for this expansion is the continued development and scaling of its Prime subscription programme, alongside diversification into non-flight products. Permira expressed enthusiasm for partnering with eDreams Odigeo, acknowledging its leading position in the European online travel sector and the innovative nature of its Prime programme.

Permira’s Investment Strategy

eDreams Odigeo’s CEO, Dana Dunne, welcomed Permira as a new partner, highlighting the investment firm’s strong track record in supporting technology and consumer businesses. Dunne emphasized Permira’s alignment with the company’s vision and their commitment to backing the growth of the Prime subscription service, which is a core component of eDreams Odigeo’s strategy.

Dipan Patel, partner and head of consumer at Permira, lauded eDreams Odigeo’s innovation and market leadership, specifically referencing its "strong tech DNA" and the impressive growth of the Prime programme. He noted the programme’s potential to further disrupt the travel industry. Permira manages funds with a substantial total committed capital, underscoring its capacity for significant investments.

Searchlight Capital Partners’ Partial Exit

Searchlight Capital Partners, which initially invested in eDreams Odigeo in 2017, is undertaking a partial divestment of its stake. Pierre-Olivier Permy, a partner at Searchlight Capital Partners, confirmed that the firm will remain a significant investor in eDreams Odigeo. He framed the transaction as a rebalancing of Searchlight’s portfolio, reflecting the success of their initial investment while maintaining continued confidence in the company’s future trajectory. Searchlight’s long-term investment since 2017 has contributed to eDreams Odigeo’s development, including the expansion of its customer base and the rollout of the Prime programme.

eDreams Odigeo serves a vast customer base and is recognized for its extensive reach within the European online travel market. The Prime subscription programme has demonstrated considerable success, attracting millions of subscribers with exclusive benefits and offers across various travel services. The company’s main offices are located in Barcelona.

Key Points

• eDreams Odigeo serves 17 million customers.
• The Prime subscription programme has 2.8 million subscribers.
• Searchlight Capital Partners initially invested in eDreams Odigeo in 2017.
• Permira manages funds with total committed capital of approximately €65 billion (US$70 billion).

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