Weekly Roundup of Major Private Equity Developments
In a significant move, EQT, a leading global investment firm, has announced the acquisition of Adevinta's Spanish operations, which include some of Spain's most prominent online classifieds platforms, such as Coches.net, InfoJobs, Milanuncios, Fotocasa, and Habitaclia. This acquisition underscores EQT's strategic focus on high-growth consumer internet platforms.
Meanwhile, EQT has also invested a substantial sum in Flexjet, a private jet company. The investment, led by L Catterton, a private equity firm backed by LVMH and Bernard Arnault's family holding company, and joined by KSL Capital Partners and J. Safra Group, is said to have set a record for the largest equity investment ever made in a private jet company. The investment is aimed at enhancing Flexjet’s luxury private aviation services.
The investment in Flexjet is the largest fundraising to date in the private aviation sector, valued at approximately $4bn, with 25% of the capital raised to be paid out as dividends to existing shareholders. The deal is expected to close in Q1 2026, pending customary regulatory approvals.
Elsewhere, Cinven, KKR, and Providence Equity Partners are exploring a potential exit from MasOrange, their Spanish telecoms joint venture with Orange SA. The private equity trio owns a 50% stake in MasOrange, formed through the €18.6bn merger of MásMóvil and Orange Spain in 2022. However, the potential deal is at a preliminary stage, and no final decision has been made regarding the exit or buyout of MasOrange.
Orange, the remaining 50% stakeholder, is considering a partial or full buyout of MasOrange, with an indicative valuation closer to €4bn. The potential deal for MasOrange is not yet finalized and is subject to customary regulatory approvals.
The acquisition of Adevinta's Spanish operations and the investment in Flexjet are part of EQT's broader strategy of digital and tech-focused investments across Europe. The firm's EQT X fund has also recently announced an acquisition of Adevinta's Spanish operations.
References: [1] [Source 1] [2] [Source 2] [3] [Source 3]
- EQT, a global investment firm, recently announced a deal to acquire Adevinta's Spanish operations, including popular online classifieds platforms, marking a strategic focus on high-growth consumer internet platforms.
- In a separate investment, EQT has committed a considerable amount of capital into Flexjet, a private jet company, led by private equity firms like L Catterton and KSL Capital Partners.
- The investment in Flexjet sets a record for the largest equity investment yet in the private aviation sector, with a valuation of roughly $4bn, and 25% of the capital raised to be paid out as dividends to existing shareholders.
- Cinven, KKR, and Providence Equity Partners are reportedly looking into an exit from MasOrange, their Spanish telecoms joint venture with Orange SA, though no final decision has been made regarding a potential buyout.
- Meanwhile, Orange, the other 50% stakeholder in MasOrange, is exploring a full or partial buyout of the joint venture, with an indicative valuation at around €4bn, pending regulatory approvals.
- EQT's acquisitions and investments, such as the recent purchase of Adevinta's Spanish operations and the investment in Flexjet, aim to reinforce its broader digital and tech-centric investment strategy across Europe.
- The private equity world is buzzing with activities, with fundraising, mergers, buyouts, and investing shaping the landscape of various sectors, including technology, aviation, and telecommunications.
