Directors of NG Travel Group choose Andera Partners to support them in their capital restructuring marking exit of Siparex ETI
PARIS, 15 MARCH 2023 – Olivier Kervella, director of NG Travel, and his management team chose Andera Acto, the team responsible for the sponsorless mezzanine strategy of Andera Partners, to support the Group in the next phases of its development. Siparex ETI will dispose of all of its shares unde this new capital operation.
Established in 2008, the NG Travel group is now one of the top five French tour operators, thanks to its unique strategic vision providing a large offer of vacation clubs, a committed ESG approach, an extremely efficient technological tool, as well as a distinctive economic model based on a distribution of multi-channel B2B/B2C (Promoséjours, Directours and Jet tours).
NG Travel thus offers more than 100 clubs, organised around three well-known brands with distinctive features (Kappa Club, Club Coralia and Club Eldorador), and at the end of 2022 opened its first hotel in Bali under the Kappa Senses brand. With a team of almost 200 employees, the Group has generated more significant growth than that of its competitors since its establishment, with a turnover in 2022 of more than 400 million Euros and a presence on the Italian market under the Kappa Viaggi brand.
Siparex ETI has supported NG Travel since 2018, with a first LBO seeking to pursue a development strategy for the distribution brands of the Group, the success of its club concepts and its growth in Italy. The business plan of the Group has since exceeded performance expectations, despite restrictions relating to the pandemic, with a turnover twice as that of 2017 and a broad portfolio of brands.
At the time of the exit of Siparex, management opted for the sponsorless solution of Andera Acto enabling it to reinforce its position as majority shareholder. Andera Partners, supported by Trocadero Capital Partners, invested 60 million Euros, whereas Zencap, already financing the unitranche operation in 2018, will continue to support the management of NG Travel. Management will rely on this new partnership to strengthen its market shares in France and in Italy as well as to accelerate the growth of its Kappa Senses hotels abroad.
Regarding this phase, Olivier Kervella, Director of NG Travel, states : “ After having increased our growth on the French market over these last four years thanks to the means provided to us by the Siparex teams, we are delighted to be able to write a new page in the history of NG Travel alongside Andera Acto. Their very extensive knowledge of the Tourism Industry and their entrepreneurial culture should help us to achieve our ambitious objectives established under our new Roadmap, and to become one of the leading Tour Operators in France and in Southern Europe, while developing our own Hotel Chain .”
Stéphane Bergez, Partner with Andera Acto, adds : “ We are particularly happy to support Olivier Kervella and his team which we have followed for many years now. With our in-depth experience in this sector, we recognise the numerous distinctive strengths of NG Travel and its team which make it a unique leader in its field. We are delighted to have been chosen to support this resilient and successful team in this new phase of its development”.
Antoine Fustier, Director of Siparex ETI and Guillaume Rebaudet, Partner with Siparex ETI, state : “ Since our initial investment, NG Travel group has made outstanding achievements, demonstrating the flexibility of its business model and its capacity to constantly develop its offer. The team led by Olivier has a very strong entrepreneurial culture and, thanks to its great expertise in the field, it was able to invent a distinctive model in the tourism sector. We are very proud to have supported them over these last few years ”.