Posella Limited and Pale Fire Capital Acquire Fly.pl
Deal News | Dec 10, 2024 | Wolf Theiss
Posella Limited and Pale Fire Capital have successfully acquired 100% of Fly.pl's shares, an independent vacation comparison platform based in Poland. Founded in 2018, Fly.pl has shown impressive growth in the travel packages comparison industry, with a CAGR exceeding 30% and a total transaction value of over PLN 100 million in the last year. Following the acquisition, Grzegorz Bosowski, Fly.pl's founder and CEO, will continue leading the company alongside the existing management team. The acquisition aims to expand Fly.pl's market share through strategic collaboration leveraging the new investors' expertise in scaling online businesses. Posella Limited is an international investment company from Cyprus emphasizing high-potential industries, while Pale Fire Capital SE is a Prague-based private equity firm. Legal advisory for the transaction was provided by Wolf Theiss, with the team led by Partner Krzysztof Libiszewski.
Sectors
- Private Equity and Investment Firms
- Travel Technology
Geography
- Poland – Fly.pl is a Polish company and the market focus is Poland.
- Cyprus – Posella Limited is an international investment firm based in Larnaca, Cyprus.
- Czech Republic – Pale Fire Capital SE is a private equity firm based in Prague, Czech Republic.
Industry
- Private Equity and Investment Firms – Posella Limited and Pale Fire Capital are investment firms involved in acquiring businesses with growth potential.
- Travel Technology – Fly.pl operates in the travel technology sector, providing online travel package comparisons.
Financials
- Not disclosed – The financial terms of the acquisition were not made public.
- PLN 100 million – Fly.pl's total transaction value over the last twelve months.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Posella Limited | Acquirer | Company | An international investment firm focused on high-potential businesses. |
| Pale Fire Capital SE | Acquirer | Company | A Prague-based private equity firm investing in public and private companies. |
| Fly.pl | Target | Company | A Polish vacation comparison platform showing rapid growth. |
| Grzegorz Bosowski | CEO and Founder | Person | Founder and Chief Executive Officer of Fly.pl, he will remain in his position post-acquisition. |
| Wolf Theiss | Legal Advisor | Company | Provided legal advice for the acquisition transaction. |
| Skyhook sp. z o.o. | Special Purpose Vehicle | Company | A joint venture between Posella and PFC created for the acquisition. |