A consortium led by the American investor Certares acquires all the shares of the FTI Group. The transaction price is symbolically set at one euro, but 125 million euros will be invested in the third largest travel company in Germany and Europe. The agreement was finalized last Monday. “FTI will receive fresh capital to fund its next phase of growth and digital transformation,” the company said in a statement. The current shareholder, the Egyptian Sawiris family, has pledged to continue to provide financial support and further investment. Until recently, the Sawiris family, through Orascom Development Holding, owned 75.1 percent of FTI’s shares. Samih Sawiris joined the company in 2014 and during the pandemic, the family took over the majority in 2020 through a capital increase, which was necessary to obtain government support during corona. Karl Markgraf, CEO of the FTI Group, said he was delighted with the agreement. “Certares is a leading investor in the global travel and tourism sector. With the support of Certares and its extensive industry experience and the capital provided by the consortium, FTI is uniquely positioned for future growth and profitability to the benefit of all stakeholders, including our customers, commercial partners and employees. We are determined to embark on our next chapter of success and further consolidate our position as a leading player in the German and European tourism industry.” Founded in 2012, Certares is a global investment firm focused exclusively on the travel and hospitality industry. The company is headquartered in New York, with offices in Luxembourg and Milan. Certares is involved with companies such as Amex GBT, Hertz, Ama Waterways, Tripadvisor, G Adventures and the Latam Airlines Group. Netherlands FTI Benelux has rapidly developed into a major player in the Dutch market. In the summer of 2017, FTI launched a complete programme for the Dutch market. With a turnover of 164 million and 182,000 passengers (in 2023), the German travel company now occupies a position in the top 5 of largest tour operators in the Netherlands (Source: Top 50, TravMagazine). Photo: Karl Markgraf, CEO of the FTI Group.
