Enterprise Investors, the owner of the Noriel toy store chain and former owner of Profi stores in Romania, has sold its remaining 34.4% stake in Novaturas, the largest tour operator in the Baltic States, through a series of secondary transactions on Nasdaq Baltic.
The transactions generated gross proceeds of EUR 4.9 million.
Currently, the company is the leading tour operator in Lithuania, Latvia, and Estonia, both in terms of sales value and passenger volume.
In 2019, the company achieved revenues of EUR 179.9 million, with an EBITDA of EUR 4.4 million.
Enterprise Investors is one of the largest private equity firms in Central and Eastern Europe. Active since 1990, the firm has raised nine funds with a total capital exceeding EUR 2.5 billion.
In Romania, Enterprise Investors has been present since 2000 and currently holds the construction company Macon Deva in its portfolio. In April 2016, it announced the acquisition of the Noriel toy store chain for EUR 24 million, and in November 2016, Enterprise Investors sold the Profi store chain to the Mid Europa investment fund for EUR 553 million, the largest transaction in the history of Romanian retail.
Frequently Asked Questions
What was the value of the Novaturas stake sale?Enterprise Investors generated gross proceeds of EUR 4.9 million from selling its remaining 34.4% stake in Novaturas.
What is Novaturas’ market position?Novaturas is the leading tour operator in the Baltic States (Lithuania, Latvia, and Estonia) by both sales and passenger volume.
What are Enterprise Investors’ major deals in Romania?Key deals include the acquisition of Noriel for EUR 24 million and the record-breaking sale of Profi to Mid Europa for EUR 553 million.