KKR and CVC Acquire Minority Stake in Etraveli Group

KKR has acquired a strategic minority stake in Etraveli Group, a global specialist in flight booking technology, alongside CVC. Etraveli handles nearly 50 million travelers a year in 75 markets through its Flight Tech platform, generating over €15bn in flight sales per year. This partnership is described as a "turning point" in the expansion of the B2B platform.

CVC Capital Partners (CVC) and KKR have announced a strategic minority partnership investment in Etraveli Group, a global leader in flight booking technology. The partnership positions Etraveli Group for significant growth and reinforces its status as the world's largest flight intermediary outside of China.

Etraveli Group, headquartered in Stockholm, Sweden, operates a sophisticated Flight Tech Platform that serves nearly 50 million travelers annually across 75 markets. The company facilitates over €15 billion in flight sales per year, having consistently delivered strong double-digit growth since its acquisition by CVC in 2017. Etraveli Group's services are delivered through its consumer-facing brands such as Gotogate, Mytrip, and Flightnetwork, as well as through its booking and fulfillment solutions for global partners like Booking.com, Radisson Hotel Group, and TUI.

Mathias Hedlund, Etraveli Group's Chief Executive Officer, expressed excitement about the new partnership: "We are thrilled to welcome KKR as a new investment partner. This strategic partnership will accelerate the expansion of our global B2B Flight Tech Platform and continue to deliver smart, seamless travel solutions to our partners and customers worldwide."

Lorne Somerville, Chairman of Etraveli Group and a Managing Partner of CVC, echoed Hedlund's sentiment: "Mathias and his team have built a world-leading e-commerce platform for flights, and it has been a pleasure to support them over the past eight years. We look forward to continuing our involvement with the business as a joint shareholder with KKR."

Blaine MacDougald, Partner and Co-Head of the Strategic Investments Group at KKR, noted: "Etraveli Group has established itself as a clear global leader in flight technology with a unique platform, deep industry integration, and a strong track record. We are pleased to partner with Etraveli Group's leadership team and CVC to deliver a tailored capital solution that will help support its continued expansion and innovation."

The partnership is a significant milestone for Etraveli Group, which is well-positioned for sustained growth. The company's strategic partnership with Booking.com, robust pipeline of B2B opportunities, and promising fintech offerings are key drivers for its future success.

References:
[1] https://www.cvc.com/media/news/2025/cvc-welcomes-strategic-minority-partnership-investment-from-kkr-into-etraveli-group/
[2] https://www.marketscreener.com/news/kkr-july-21-2025-cvc-welcomes-strategic-minority-partnership-investment-from-kkr-into-etraveli-ce7c5cdfdf81fe26