Massive deal in Madrid: EQT buys online real estate classifieds platform idealista for €1.3 billion

Robin Wauters

Robin Wauters

Co-founder and editor-in-chief of Tech.eu, with previous stints at The Next Web and TechCrunch under his belt. Deeply in love with his family, technology, traveling and Belgian beer.
robin@tech.eu

Global investment firm EQT has agreed to acquire the majority of Spanish online real estate classifieds platform provider idealista from (funds advised by) Apax Partners and its management for a whopping €1.3 billion. Apax bought idealista in 2015 at a reported €150 million valuation.

EQT’s IX fund will have a majority ownership, but idealista’s management team, including founder and CEO Jesús Encinar, will continue to lead the Madrid-based company.

Founded back in 2000, idealista supports approximately 40,000 real estate agents and 38 million unique monthly visitors across Southern Europe by providing an online real estate classifieds marketplace for home buyers and sellers. EQT says it will support idealista’s growth by investing in the company’s online platform and further developing its portfolio of value-add services for real estate agents as it continues its journey after 20 years.

Jesús Encinar, CEO of idealista, said: “We are very excited to partner with EQT and look forward to working together during the coming years. EQT’s online classifieds and real estate expertise, local presence in Spain and Italy, and extensive network of advisors will be of great value for us and key to our future success. idealista and EQT share a similar culture and passion for growth, a key decision factor for me and my team to partner with them.”

The transaction is expected to close subject to customary approvals in December 2020.

Share this:
Share on linkedin
Share on facebook
Share on twitter

Get exclusive access to news, data and actionable insights on the European Tech innovation ecosystem(s)

By subscribing to Tech.eu, you gain instant access to curated European technology news, market intelligence and interviews with leading startup founders, investors and more. Sign up now in under a minute to deepen your knowledge on the European Tech innovation ecosystems on a daily basis.