As we all know, economic reality has undergone major changes in recent years. Everyone is facing new challenges, the world of tourism being no exception. But we embrace them with optimism, because the appeal of travel and the allure of human interactions in different environments remain. We still love to discover and create new stories that provide a welcome break from our busy everyday routine, conjuring up memories that will stay with us for a long time.
At Kompas, we like to learn and adapt. We are interested in everything that this modern age has to offer. Thanks to our extensive corporate network, and the knowledge and experience of our professional staff, we are involved in creating the latest trends in the travel industry. We are aware that the best business practices are based on trust, reliability and, above all, mutuality: for us, true success lies in the benefits and advantages for you, our esteemed business partners. Although Kompas has been synonymous with quality for decades, we never take our reputation for granted, but continuously upgrade our services and create fashionable products.
Taking into consideration all of the above, you can rest assured that Kompas is the compass that will stay with you wherever you go, making the journey to new horizons reliable and enjoyable.
Springwater Capital acquires Kompas from Fortenova Group
Ljubljana, 26. 2. 2021 - Funds advised by Springwater Capital, a leading Pan-European Special Situations investment firm, announced it has acquired the Kompas Group, a leading travel company in the SEE & CEE with presence in fifteen countries, from Fortenova Group.
Headquartered in Slovenia and Croatia founded in 1951, Kompas is the leading tour operator in the South Eastern Europe and Central Eastern Europe region, integrated with a network of DMCs in the main European cities focused on escorted tours and Adriatic cruises wholesaling. The company is also involved in retail and online travel agency (OTA), Meetings, Incentives, Conference and Events (MICE) and Business Travel Centre (BTC) segments. With over EUR 200m reported revenues in 2019, the Group has a 20% market share in Slovenia and Croatia. Kompas is one of the oldest and largest tour operators in the Adriatic region.
Springwater continues its bet on the tourism industry and its expected rebound after travel restrictions are softened. The firm has extensive experience in the industry, having been involved in more than 10 tourism-related transactions.
Kompas will continue to be led by Chief Executive Officer Lovorko Mamic and its existing senior leadership team. The business will continue to operate as a separate company. Springwater will support the current management team in its intention to consolidate and strengthen its competitive positioning.
Springwater Capital invests in middle-sized companies that seek sophisticated capital solutions facing complex situations.
UMiUM and MPRR served as advisor to Fortenova Group on the transaction, while Deloitte, Sibinčič Križanec and Glinska & Mišković served as advisors to Springwater Capital.
Further terms were not disclosed.