EQT Acquires Italian Online Price Comparison Platform Facile.it

STOCKHOLM, Sweden, May 23, 2018 /PRNewswire/ -- The EQT VIII fund ("EQT" or "EQT VIII") has entered into an agreement to acquire Facile.it ("Facile" or "the company") from Oakley Capital and other minority owners. Oakley Capital will re-invest into the company while EQT VIII will have a majority ownership.

Founded in 2008, Facile is Italy's leading online destination for consumers to compare prices for motor insurance, energy, telecoms and personal finance products. Today, Facile helps approximately 20 million users to compare prices and save money on key elements of their household expenditure, providing access and comparison to products from 80 providers. Facile has achieved an average annual top-line growth of 21% over the past five years and in 2017 the company generated approximately EUR 66 million in sales.

EQT VIII will support the continued development of Facile's growth strategy. In addition to getting access to both operational and financial resources, the company will also be able to leverage EQT's deep TMT sector expertise, Italian presence and global network of Industrial Advisors. Facile's current management team, including CEO Mauro Giacobbe, will continue to lead the organization, building on a strong track record of growth.

"We are impressed by Facile's management team and the high quality of the company's service offering. Facile holds a true market-leading position in the online price comparison space, which it has successfully built over the past decade by helping millions of consumers to make smarter purchases. EQT looks forward to supporting Facile and the management team in their continued growth journey and expansion, both online and offline", says Dominik Stein, Partner at EQT Partners, Investment Advisor to EQT VIII and Head of EQT TMT sector team.

Mauro Giacobbe, CEO at Facile comments: "We are very excited to have EQT as our new owner and look forward to working together closely. EQT's industrial approach, global presence, local angle and broad network will be of great value to Facile as we embark on our next phase of growth. We believe that EQT's entrepreneurial spirit will play an important part in our future success".

Federico Quitadamo, Director at EQT Partners, Investment Advisor to EQT VIII, concludes: "EQT believes that Facile has the potential to continue grow significantly and look forward to partnering with the strong management team to accelerate the company's expansion and consolidate its leading position in Italy across verticals and channels. The acquisition of Facile confirms EQT's commitment to expanding its franchise in Italy and the continued pursuit for future investment opportunities in the country".

The transaction is expected to close in June 2018. The parties have agreed not to disclose the transaction value.

Contacts

Dominik Stein, Partner at EQT Partners, Investment Advisor to EQT VIII, +49 892 554 99 508

Federico Quitadamo, Director at EQT Partners, Investment Advisor to EQT VIII, +41 442 666 802

EQT Press office, +46 8 506 55 334

About EQT

EQT is a leading investment firm with approximately EUR 50 billion in raised capital across 27 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com  

About Facile.it

Facile.it is Italy's leading online destination for consumers to compare prices for motor insurance, energy, telecoms and personal finance. Today, Facile helps approximately 20 million users to compare prices on key elements of their household expenditure providing access and comparison to products from 80 providers. Facile.it has achieved an average annual top-line growth of 21% over the past five years and in 2017 generated approximately EUR 66 million in sales.

More info: www.facile.it  

CONTACT:

This information was brought to you by Cision http://news.cision.com

http://news.cision.com/eqt-ab/r/eqt-acquires-italian-online-price-comparison-platform-facile-it,c2529625

The following files are available for download: