Spain’s GED has added yet another portfolio company to its Happy Tours group by acquiring Romania’s Prestige Tours. Since GED took over Happy Tours in 2007, it has added two other companies to the platform. Both companies, Travel House and Paravion.ro, were Romanian competitors to Happy Tours. When the acquisition is complete the Prestige brand will be reserved exclusively for use in tour operations.
Prestige Tours (www.prestigetrours.ro)
Prestige Tours is an international tour operator and the local Romanian partner of FCM Travel Solutions. The company was founded in 1990 to provide vacation and holiday packages as well as domestic and international travel opportunities to Romanian tourists.
The company offers travel packages to destinations in Europe, the United States, South America, and the Middle East.
Based in Bucharest, Prestige Tours employees some 25 individuals and reported 2010 turnover of €10 million.
GED is a private equity investor based in Madrid, Spain and active mainly on the Iberian Peninsula. The firm specializes in buyout and expansion investments in mid-market companies.
GED currently has four active funds with total assets of €350 million. The funds are split between traditional private equity and private equity real estate transactions. They prefer to invest in four targeted nations: Spain, Portugal, Bulgaria, and Romania, The firm’s primary goal is to build value by taking local companies and expanding them into regional ones.
GED’s headquarters are complimented by offices in Bucharest, Madrid, Oporto, Seville and Sofia.,