Equistone Partners Europe, (“Equistone”) one of Europe’s leading mid-market private equity investors, today announces the sale of Global Blue (or the “Company”), the international provider of travel-related payment services, to Silver Lake Partners and Partners Group in a €1bn transaction. The sale of Global Blue will take total capital returned to investors to approximately 60% of Fund III. Formed in 2007, Fund III has made 38 investments and has already had eight realisations.
Founded as Sweden Tax Free Shopping in 1980, Global Blue is one of the world’s leading providers of traveller-related services including tax refunds for travellers on purchases when shopping overseas, dynamic currency conversion services which enable customers to pay in their home currency at the point of sale, and marketing services for merchants. Global Blue is headquartered in Switzerland with a presence in 41 countries and approximately 1,400 employees worldwide.
Equistone backed the €360m management buyout of Global Blue (then Global Refund) in September 2007. During Equistone’s investment period, the Company has shown impressive growth, doubling revenues and increasing EBITDA from c. €35m to c. €97m.
