CarTrawler bought by equity group for €450m

24 Mar 2014

E-commerce company CarTrawler has been acquired by private equity firms BC Partners and Insight Ventures for €450m.

The company was sold by its owner ECI, which bought CarTrawler in 2011.

A minority stake in CarTrawler was also acquired by Insight Venture Partners.

Based in Dublin, CarTrawler has over 1,000 partners, connecting end customers to more than 1,200 suppliers across 30,000 pickup locations.  It also operates online car rental sites under the Holiday Autos and Argus Car Hire brands.

The company was established in 2004 by Niall and Greg Turley and employs 180 skilled graduates at its Dundrum base.

The company’s new majority owners BC Partners has advised funds of €12.6bn.

“I am delighted that we have found new partners in BC Partners, given their considerable experience in developing technology and travel related businesses,” said CarTrawler CEO Mike McGearty.

“They have an impressive track record in helping businesses to grow, internationalise and develop to their full potential.  We look forward to working closely together with them over the coming years.”

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years