Warburg Pincus sells airline services firm Accelya to Vista Equity Partners
London: US buyout fund Warburg Pincus said on Monday that it had clinched a deal to sell its European airline services firm Accelya to rival private equity fund Vista Equity Partners for an undisclosed amount.
The deal, which was first reported by Reuters, allows Warburg Pincus to fully cash out after backing the Barcelona-based company for the past two years.
The US investment firm launched an auction process during the summer to find a new owner for the business which serves more than 200 airlines including British Airways, Lufthansa and EasyJet.
Warburg Pincus bought Accelya from French private equity firm Chequers Capital in 2017 and quickly tripled its revenues by merging it with Mercator, a Dubai-based travel services group in which the U.S. buyout firm had been an investor since 2014.
