EQT VIII, a fund of investment firm EQT, is to acquire Facile.it, a Milan, Italy-based online platform for consumers to compare prices for motor insurance, energy, telecoms and personal finance products from Oakley Capital and other minority owners.
Oakley Capital will re-invest into the company while EQT VIII will have a majority ownership.
The amount of the transaction, which is expected to close in June 2018, was not disclosed.
The investment will support the continued development of the company’s growth strategy.
Founded in 2008, Facile is an online platform that allows consumers to compare prices for motor insurance, energy, telecoms and personal finance products. The platform is currently used by approximately 20 million users to compare prices and save money on key elements of their household expenditure, providing access and comparison to products from 80 providers.
The company generated approximately €66m in sales.
Following the deal, Facile’s current management team, including CEO Mauro Giacobbe, will continue to lead the organization.