Permira Debt Managers (“PDM”), one of Europe’s leading specialist debt investors, today announces that funds it advises are acting as sole senior secured lender in GENUI’s acquisition of Berge & Meer. Berge & Meer was purchased by TUI in 2006 but has now been carved out by GENUI. The funding will support the company’s independent growth strategy.
The deal is PDM’s first with GENUI, a German private investment firm specialising in the DACH mid-market, and continues its strategy of supporting high-quality sponsors.
Founded in 1978 in Rengsdorf, Westerwald, Berge & Meer is a leading German travel specialist, focussing on high quality, value-for-money tours and cruises packages for the over 50s ‘silver agers’ market. To date the operator has served millions of customers and offers more than 1,500 trips in over 80 countries.
Jens Bauer, Investment Director at PDM, said:
“We are delighted to support GENUI for the first time on a great transaction. They are a highly regarded sponsor investing in the German mid-market.
“Berge & Meer is an ambitious business with a real niche in the travel market. Serving the resilient, 50+ years ‘silver agers’ customer segment and above market online sales share has seen solid financial performance.
“We see a distinct opportunity for Berge & Meer, alongside GENUI, to continue its growth trajectory.”
The PDM funds have now supported over 150 ambitious and fast-growing European companies with over €8bn of capital since PDM’s inception in 2007.
