STOCKHOLM, June 22, 2022 /PRNewswire/ —
-
EQT Private Equity and Oakley sell Facile.it, italy leading online destination for consumers to compare prices and save money on key areas of household spending in Silver Lake
-
Under the mandate of EQT Private Equity, Facile.it continued to pioneer the online price comparison market in Italy and established its position as the undisputed leader in multiple verticals, strengthening its brand, technology capabilities and omnichannel presence
-
Today, Facile.it reaches a base of more than four million monthly unique users through a seamless end-to-end experience across its website, 39 stores and more than three thousand agents, and has grown its EBITDA by more than 20% on average over the last four years
EQT is pleased to announce that EQT Fund VIII (“EQT Private Equity”) and Oakley have agreed to sell Facile.it (“Easy” or “the “Company”), italy largest online price comparison platform, in Silver Lake.
Founded in 2008 and based in MilanoEasy.it’s italy leading destination for consumers to compare prices for auto insurance, utilities, financial products and more, helping users save time and money and making their daily lives easier.
During the ownership of EQT Private Equity, Facile.it continued to pioneer the online price comparison market in Italy, developing innovative products that save its users hundreds of millions of euros each year. Over time, Facile.it has expanded its diverse product offering and unique omnichannel distribution proposition, which underpin its long-term growth trajectory and allow it to benefit from the continued digitalization of the market and the penetration of the e-commerce.
EQT Private Equity has invested significantly in Facile, future-proofing its technology architecture, expanding its management team and developing unique omnichannel distribution capabilities, while continuing to strengthen its brand. In 2021, the Company reached 140 million euros revenues and is now well positioned for its next phase of growth.
Dominique Steinpartner within the EQT Private Equity advisory team, said: “Facile.it is a great example of how EQT can help unlock the full potential of a business by combining our local approach with local and our deep industry expertise, with our long experience in technology development. EQT is proud to have been part of the remarkable trajectory of growth and development of Facile. We would like to thank the entire management team for the trusted partnership at over the past four years. We would also like to thank our co-investor Oakley Capital, the members of the advisory board and all employees for their daily commitment to making Facile.it the unique company it is today.”
Christian LucasCo-Head of Silver Lake EMEA, said, “ Facile is an exceptional company with a differentiated and powerful value proposition for customers, channel partners and financial service providers. We are really impressed with what Tobias and the rest of the team have built over the past few years. italy leading online destination for consumers to compare prices with a market-leading technology platform and unique omnichannel capabilities through its agent networks and stores. Investing in high-growth, pioneering business models with differentiated technology capabilities is core to our mission. We look forward to partnering with Tobias and the rest of the management team to invest meaningfully in the business and drive growth and value creation over the coming years by bringing our experience of investing in multiple businesses. similar across Europe.”
Tobias StuberCEO of Facile.it, said, “On behalf of the Facile.it management team and all employees, I would like to thank EQT and Oakley for the successful, collaborative and highly productive partnership over the past four years in our journey towards further capitalization on our position as a flagship destination for italy household spending. Thanks to their support, we are now in an even better position for the next phase of our growth with our new partner Silver Lake.”
The transaction is subject to customary conditions and approvals and is expected to close in the third quarter of 2022.
Goldman Sachs acted as exclusive financial advisor, Latham & Watkins as legal advisor to EQT.
Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/eqt/r/eqt-private-equity-to-sell-facile-it–italy-s-largest-online-price-comparison-platform–to-silver-la, c3590396
The following files are available for download:
