Shearman & Sterling LLP multinational law firm headquartered in New York City, United States.

News Oct 02, 2018

Siparex Acquisition of Minority Stake in NG Travel

Shearman & Sterling advised Siparex on its acquisition of a significant minority stake in France-based NG Travel, a tour operator and holiday accommodation provider, through an MBO operation to refocus the group’s capital around its co-founder, Olivier Kervella, and the management team. Karim Massoud, co-founder of the group, sold his stake and will take over Plus Voyages, a subsidiary dedicated to business travel. 

Siparex Group, founded 40 years ago, is an independent private equity investor specializing in midmarket and intermediate-sized companies. Siparex serves companies nationwide from its offices in Paris, Lyon, Nantes, Besançon, Lille, Strasbourg, Dijon and Toulouse, and it has a presence in Madrid, Milan and Munich.

With nearly 200 employees and a €230 million turnover, NG Travel is one of France’s biggest tour operators. Highly digitized, the group has also structured a range of travel clubs under the Kappa Club, Club Coralia and Nosylis Collection brands.