Permira has taken a majority stake in software company Boats Group from Apax Partners.
Miami-based Boats provides an online marketplace for boats through multiple platforms including YachtWorld, Boat Trader, boats.com, Cosas De Barcos, Annonces du Bateau and Botentekoop. “Boats Group’s ability to provide boat buyers and sellers with differentiated, network-effects powered services and solutions has made it the definitive platform for the recreational boating space, attracted a very loyal customer base, and propelled stand-out growth and profitability,” says Permira principal David Erlong. “The recreational marine industry is still in the very early innings of its digitization journey with many unmet needs.”
RBC Capital Markets is serving as financial advisor to Permira, and Fried, Frank, Harris, Shriver & Jacobson LLP is providing legal counsel. Evercore is serving as financial advisor to Apax and Boats, and Kirkland & Ellis LLP is providing legal counsel.