EQT Partners is a Swedish investment group with around 20 investment funds in Sweden. private equity invested in unlisted companies, investing in small and medium-sized companies through venture capital funds or equity funds, mainly in start-ups or companies in need of strong financing.
EQT has taken control of Idealista after acquiring a stake of around 85% of the real estate capital, in a transaction worth more than 200 million euros. This is, to date, the largest acquisition of a digital company in Spain.
Idealista is a Spanish company founded in 2000, offering through the Internet a real estate portal service in Spain, Italy and Portugal. Spain is the leading marketplace for buying and selling and renting homes. It also has approximately 38 million monthly visitors in Spain, Italy and Portugal.
Idealista's business model focuses on classified ads, businesses linked to the real estate sector, such as the 'Big Data' service (reinforced after the purchase last year of the startup TerceroB for almost 6 million) or the analysis of the risk of rental arrears. Achieving a net profit in 2019 of 23.3 million.
Idealista's main investors in recent years have been: Tiger Capital (22%), Kutxabank (14%), Bonsai Venture Capital (10.7%), in addition to the founding team of Jesús Encinar, Fernando Encinar and César Oteyza.
Idealista will continue to have the founding management team -Jesús Encinar, Fernando Encinar and César Oteiza- although with a clear commitment to the digitalisation of the economy and a vigorous housing market.
The Swedish fund, EQT, wants to boost and accelerate Idealista's growth by leveraging EQT's in-house digital and technological expertise, as well as its international presence and network of advisors. It will increase its penetration in strategic markets and strengthen its position as the market leader and benchmark online platform for real estate classified ads in Southern Europe.