The Carlyle Group has agreed to acquire and merge Condor Travel and Nuevo Mundo Viajes, to create a regional tourism platform
We are proud to announce our first sell-side transaction in Latin America. This marks a further important milestone in our strategy while focussing on leading travel specialist in Europe, the Americas and Asia-Pacific, but recently also with an increasing focus on the Emerging Markets. Hitz & Partner acted as the exclusive lead advisor to the majority shareholders of Condor Travel as well as The Abraaj Group, an emerging market Private Equity firm, in a secondary buy-out transaction to The Carlyle Group. Condor Travel is one of the leading inbound tour operators in South-America based in Lima with operations in Peru, Chile and Ecuador, which serves more than 2,000 B2B-clients globally. The Carlyle Group has agreed to acquire Condor Travel and Nuevo Mundo Viajes, the leading outbound tour operator in Peru, and merge them to create a regional tourism platform. By acquiring 80% of each of the Peruvian entities, Carlyle will become the controlling shareholders of the newly-created holding company. Our client, Sammy Niego, CEO of Condor Travel and future CEO of the new holding company, said: „Together with Nuevo Mundo and Carlyle’s expertise and global reach, we are well positioned to grow locally and internationally“. Previously, Carlyle has invested in the tourism sector through its portfolio company, CVC Brazil Operadora y Agencia de Viajes, which is the leading outbound tour operator in Brazil with more than 2.5 million clients.