Permira Funds to acquire a majority stake in Boats Group from Apax Partners.

Permira Funds, a European private equity firm, agreed to acquire a majority stake in Boats Group, an online classifieds marketplace and technology provider for the recreational marine industry, from Apax Partners, a private equity firm. The transaction, which is subject to customary closing conditions, is expected to close in the first quarter of 2021. Financial terms were not disclosed. “Boats Group’s ability to provide boat buyers and sellers with differentiated, network-effects powered services and solutions has made it the definitive platform for the recreational boating space, attracted a very loyal customer base, and propelled stand-out growth and profitability. The recreational marine industry is still in the very early innings of its digitisation journey with many unmet needs. We look forward to backing Sam and his team as they expand both internationally as well as into new products and services that fill these gaps to delight our consumers and customers,” David Erlong, Permira Principal.