In a monumental transaction, EQT has announced the sale of its majority stake in the leading real estate platform idealista, valuing the company at €2.9 billion.
EQT, which acquired idealista in 2020 for €1.3 billion, will retain an 18 percent stake in the company. The majority stake, amounting to 70 percent, will be acquired by Cinven, with funds advised by Apax and Oakley also selling their shareholdings.
This significant deal underscores the remarkable growth and strategic importance of idealista in the real estate markets of Spain, Italy, and Portugal.
Bert Janssens, Partner and Head of the Private Equity Europe advisory team at EQT, commented, “Over the past four years, idealista has entrenched its leading position in the Spanish and Portuguese markets and strengthened its presence in Italy, all while implementing new digital and sustainability initiatives that create a foundation for further growth. We believe strongly in idealista’s future potential and are excited to remain invested.”
Jesus Encinar, founder and Chairman of idealista, will continue to lead the company alongside the existing management team. Encinar expressed his enthusiasm for the new phase, stating, “This is excellent news for idealista and our team. We’re pleased that EQT will remain a minority shareholder and look forward to continuing our successful partnership for the coming years.”
The transaction highlights the impressive trajectory of idealista since EQT’s initial investment. The company’s ability to expand and dominate in multiple European markets has made it an attractive investment for Cinven, a firm known for its strategic acquisitions in high-growth sectors.
Idealista has become a pivotal player in the real estate sector, known for its comprehensive digital platform that serves millions of users across Spain, Italy, and Portugal. The platform’s innovative approach, integrating digital and sustainability initiatives, has not only enhanced its market position but also set new standards in the industry.
EQT’s partial retention of its stake in idealista signifies confidence in the company’s ongoing growth and potential for future success. The continued involvement of EQT and the leadership of Jesus Encinar are expected to ensure stability and continuity as the company embarks on this new chapter with Cinven.
For more detailed information about idealista and their services, visit idealista’s official website.
As this significant deal unfolds, it is evident that idealista is set to further solidify its status as a leading real estate platform in Europe, driving innovation and growth in the sector. This transaction not only marks a milestone for idealista but also sets the stage for continued expansion and success under its new ownership structure.