CarTrawler looks set to be sold a third time
Owner BC Partners reportedly planning to sell car technology business in €694m deal
CarTrawler, which produces car-hire software for airlines and travel agencies, was founded by brothers Niall and Greg Turley in 2004, having grown out of a family business, Argus Car Hire. Photograph: Cyril Byrne
Technology firm CarTrawler looks set to be on the market again, as its private equity owner looks to cash in on its investment.
The firm, which produces car-hire software for airlines and travel agencies, was founded by brothers Niall and Greg Turley in 2004, having grown out of a family business, Argus Car Hire.
In 2011, the brothers netted up to € 90 million when UK private equity group ECI Partners acquired between 50-100 per cent of the company’s equity.
Subsequently, European private equity firm BC Partners took a majority stake in the business, with management also retaining a significant shareholding, in a deal that was said to be valued at about €450 million.
Now The Sunday Times has reported that BC Partners is planning to sell the business again, in a deal that could be worth £600 million (€694 million).
Private equity investors Advent International and KKR are said to be potential interested parties. The private equity group is also said to be weighing a stock market listing along with the sale.
According to Top1000.ie, CarTrawler had estimated turnover of about €620 million in 2016, and employs some 550 people.