• Founded in 2000, Karavel-Promovacances group has extensive expertise in designing and selling travel packages online, generating nearly €400 million in 2010 revenues. With more than four million visitors per month to its website promovacances.com, the company is the undisputed leader in holidays package. Covering more than 80 destinations, it offers the broadest and most comprehensive selection of holidays on the market at competitive prices. It also sells cruises and tailor-made packages, including flight-only deals, car rental and skiing holidays.

Karavel-Promovacances has expanded through a combination of robust organic growth and acquisitions (AB Croisière, Partir Pas Cher and Un Monde à Deux), culminating in the original and lucrative 'tour operator-distributor' business model that it deploys today. By maintaining stringent risk management and placing customer satisfaction at the core of its strategy, Karavel-Promovacances can offer high value-added, competitive products designed and/or selected according to very strict quality guidelines.


• CEO: Alain de Mendonça
• http://www.promovacances.com
• http://www.karavel.com
• Nature of the deal: secondary LBO
• Date of the first investment: June 2011


• Capzanine teamed up with LBO France, Euromezzanine and the management team to participate in the leveraged buyout of Karavel-Promovacances, acting as co-arranger of the deal's mezzanine financing. This new operation will provide the resources it needs to explore any investment opportunities offering new avenues for growth, such as international expansion or opening bricks-and-mortar travel agencies.



PRESS RELEASE:
> New shareholders at Promovacances (Capzanine 06/2011)