Deals
Marc van Amsterdam, CEO, Sunair
Completion Date
September 2009
Transaction Type
Acquisition
Transaction Value
(Not disclosed)
Lead Partner
Jan Willem Jonkman
Telephone +31 73 623 8774
Background
Sunair Vakanties, an award winning city breaks specialist, has strengthened its position in the market with the takeover of the tour operating arm of Panta Stedenreizen, a subsidiary of the De Reisspecialisten Groep.
Sunair is a leading tour operator for city trips around the world, offering trips to over 70 cities and 600 hotels worldwide. Virtually any travelers wishes can be tailored into customized city programs, making Sunair Vakanties one of the leading travel agencies in Holland.
BlueMind has been Sunair's exclusive strategic and financial advisor for over 5 years. In 2004, BlueMind advised Sunair's management on the buyout with PE-firm Venturion from MyTravel Plc. Four years later, in 2008, Sunair's management acquired all stock in the buyout of Venturion. BlueMind also arrange this transaction.
BlueMind assisted Sunair in purchasing Panta Stedenreizen by inter alia a profound analysis of the target, advise on financial feasibility of the transaction and the deal structuring.
What Difference Did We Make?
Over the years BlueMind played a major role in developing the financial projections model and business plans. BlueMind lead negotiations with listed MyTravel (U.K) for a total buyout with a prominent role of management. Furthermore, equity partner Venturion was elected to partake in the successfully closed MBO transaction in 2004. Subsequently, BlueMind managed the competitive banking process and sourced bank funding with Fortis Bank (2004) and ING Bank (2008). Also the negotiations in the acquisition of Panta Stedenreizen were lead by BlueMind.