Cinven, a global private equity firm, alongside EQT and other investors, has acquired a 70% stake in Idealista, a leading Spanish real estate firm, in a deal worth 2.9 billion euros (about USD 3.10 billion). Established in 2000, Idealista operates in Spain, Portugal, and Italy, offering real estate agents a platform to list properties through subscriptions. It provides online advertising, mortgage brokerage, and data analytics services. EQT retains 18% ownership post-deal, with Oakley and Apax selling their shares. Founder Jesus Encinar remains chairman. EQT previously acquired a majority stake in 2020, valuing Idealista at around 1.3 billion euros.
Spanish property platform Idealista has been acquired by private equity firm Cinven in a deal valuing the company at EUR 2.9 billion (USD 3.1 billion).
European buyout fund Cinven has acquired a 70% stake in Idealista for EUR 2.9 billion. The remaining ownership will be split between EQT, a Swedish investment firm, which retains an 18% stake, and Idealista's founder and chairman, Jes's Encinar, and his team (12%). This deal marks a significant moment for Idealista, which was previously majority-owned by EQT after their acquisition in 2020 for EUR 1.3 billion. The EUR 2.9 billion valuation represents more than double the value placed on Idealista just four years ago.
Founded in 2000, Idealista has grown to become a major player in the online real estate market across Spain, Portugal, and Italy. The platform boasts over 50 million users and offers property listings in hundreds of thousands markets. Idealista primarily serves real estate agents by offering subscription-based plans for property listings. Beyond listings, Idealista provides additional services such as online advertising, mortgage brokerage, and data analytics tools for real estate professionals, generating a diversified revenue stream.
The acquisition by Cinven suggests confidence in Idealista's future growth potential. While the specific plans for Idealista under new ownership remain unclear, the deal highlights the increasing importance of online platforms in the European real estate market. It will be interesting to see how Idealista leverages Cinven's investment to expand its services and user base across its existing markets of Spain, Portugal, and Italy, or potentially enter new territories.
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