Silver Lake, Partners Group to buy Global Blue for $1.3 billion
24 May 2012
Silver Lake Partners, the largest technology focused private equity firm and investment management company Partners Group today agreed to buy Global Blue, a tax-free shopping business, for €1 billion ($1.3 billion) from Equistone Partners Europe.
Silver Lake Partners and Partners Group outbid rivals, including Boston-based TH Lee Partners, BC Partners and EQT in an auction.
Founded as Sweden Tax Free Shopping in 1980, Global Blue is one of the world's leading providers of traveler-related services, including tax refunds for travelers on purchases when shopping overseas.
The Nyon, Switzerland-based company also provides currency conversion services, which enable customers to pay in their home currency at the point of sale, and marketing services for merchants.
The company operates in 41 countries and handles more than 25 million transactions annually for more than 270,000 merchant outlets.
Equistone Partners, which was spun off from Barclays Plc in 2011, had acquired Global Blue for €360 million in 2007.
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