A consortium led by US private equity firm Certares has taken over Germany’s FTI Group, the third largest tour operator in Europe.
A consortium led by Certares, an investment company specializing in the travel and tourism sector, and consisting of other investors, has signed the agreement for the takeover of FTI GROUP and its financing and will manage the company in the future.
As part of the agreement, FTI will receive €125 million in fresh capital for its next phase of growth and to finance its digital transformation. The current shareholder has agreed to provide financial support and further investments. The transaction is subject to the usual regulatory approvals and conditions required for processes of this nature.
Karl Markgraf, CEO of FTI GROUP, said: “We are pleased to announce our partnership with the consortium led by Certares. Certares is a leading investor in the global travel and tourism industry. With the support of Certares and its extensive experience in this sector, as well as the capital provided by the consortium, FTI is in a unique position for future growth and profitability that benefits all stakeholders – including our customers, business partners and employees. We are determined to begin our next chapter of success and further consolidate our position as a leading player in the German and European tourism sector.”
