Clearwater has advised IDI, a leading listed investment company, on raising unitranche financing for its acquisition of CDS Groupe.
CDS Groupe is a leading hotel booking platform dedicated to business travel. Based in Paris, the group has 30 employees for a business volume of approximately €90m in 2019.
The transaction is the first LBO for CDS Groupe. IDI has invested approximately €15m for a significant minority stake alongside the management team which remains the majority shareholder. This acquisition is also financed by unitranche debt provided by Access Capital Partners.
The transaction is a milestone and will enable CDS Groupe to accelerate its development and support its upcoming growth in Europe.
