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July 2024
Iberia, > €500m

Liberty advises the management team of Idealista on the €2.9 billion acquisition by Cinven

Liberty Corporate Finance is delighted to announce they have advised the management team of Idealista on a €2.9 billion transaction led by Cinven, who have acquired a 70% stake in the business.

EQT, a Swedish buy-out group which had acquired Idealista in 2020 for €1.3 billion, has sold its majority shareholding will retain an 18% stake in the company.

As part of the deal, funds advised by Apax and Oakley, which held stakes respectively of 17% and 11% in Idealista, have agreed to sell, cash in and exit the company.

Idealista, founded in 2000, has grown its presence in Spain, Portugal and Italy. It allows real estate agents to advertise their properties in exchange for a subscription fee, and it also provides online advertising, mortgage brokerage and data analytics services for real estate agents.

Jesus Encinar and Cesar Oteiza, founders of Idealista, will retain their stake and continue to lead the company alongside the existing management team.

Mick McDonagh
It has been our pleasure to advise Jesus, Cesar and their team at Idealista for the third time. The incredible (almost entirely organic) growth achieved by the business over the period since Apax invested in 2015 is very rarely achieved by the founding team and is testament to their strategy, skill, hard work and dedication. We look forward to seeing the next chapter of the story as Cinven join EQT alongside them.

Michael McDonagh
+44 (0) 7715 705 000