French travel search engine EasyVoyage has secured a further Euro 31.6 million round of investment - an injection of capital it claims is the biggest Leveraged Buyout in the country and the fifth highest for a technology firm in Europe in 2009.
The deal is part of an LBO of the business by financial investors UFG and GIMV and comes three years after an initial injection of funds to the tune of Euro 9 million in 2006 from Actem Partners and Seventure.
The metasearch company says it will use the money as a warchest for new acquisitions around Europe after launching a number of country sites around the continent over the past few years.
EasyVoyage bought travel sites Todoviajar (Spain) and Alibabuy (France) in 2007 and is committed to expanding the business organically and through further acquisitions as a result of the latest funding round.
A site for the German market will launch in November 2009.
The LBO will see existing shareholders Frederic Chevalier, Jacques Maillot, Francis Reverse, and Mogador Participations keeping their positions but CEO and founder Jean-Pierre Nadir secure a 40% stake in the company.
EasyVoyage claims it is in the top three travel sites in Spain and top five in Italy, according to Comscore.
However it has reigned its projection for a top five finish by the end of 2009 for its 10-month old UK site. It now expects a top ten placing during the first quarter of 2010.