TowerBrook Capital Partners’s Acquisition of CarTrawler

Sidley advised TowerBrook Capital Partners on its acquisition of CarTrawler.

Irish car rental and mobility solutions provider, CarTrawler, has been acquired by UK private equity firm TowerBrook in a deal believed to be worth €100 million.

CarTrawler, which was founded by Irish brothers Niall and Greg Turley in 2004 and expanded its operations into 150 countries worldwide, makes software used by airlines and travel agents to connect to car-hire firms and was thrown into emergency debt restructuring talks as its business was hit by the grounding of airline fleets internationally amid the Covid-19 pandemic.

The Dublin-based firm, which employs around 450 people, will be hoping the takeover will end the recent period of uncertainty as the coronavirus outbreak has had a significant impact on the sector.

CarTrawler was previously backed by BC Partners. The acquisition is subject to antitrust and regulatory approvals.

Sidley’s team was led by London partners Mark Knight (Picture), Jifree Cader (Restructuring), Bryan Robson, James Crooks (Global Finance), Michelle Tong, Christian Iwasko and Erik C. Dahl (Private Equity). The team also included partners Oliver Currall (Tax, London), Patrick J. Harrison (Antitrust/Competition, London), Karen Kazmerzak (Antitrust/Competition, Washington, D.C.), Martin Membery (Insurance, London), Rachpal K. Thind (Banking and Financial Services, London), counsel Rosanna Connolly (Antitrust/Competition, London), senior associates William Gwyn (Global Finance, London), Jason Menzies (Tax, London), and associates Martin Michalski (Global Finance, New York), Nils Gravenhorst (Global Finance, London), Hui Zhen Gan (Private Equity, London), Luke Mason (Restructuring, London), Oliver Rosshandler (Tax, London), Jakob Dewispelaere (Antitrust/Competition, Brussels), Jamie M. Sadler (Antitrust/Competition, Washington, D.C.), Ellen Thomson (Antitrust/Competition, London), Tom Hunter (Banking and Financial Services, London) and Colin Vo Kavanaugh (Global Finance, London).

TowerBrook Capital Partners is an investment management firm with in excess of $13.4bn under management.

Involved fees earner: Jifree Cader – Sidley Austin LLP; Rosanna Connolly – Sidley Austin LLP; James Crooks – Sidley Austin LLP; Oliver Currall – Sidley Austin LLP; Erik Dahl – Sidley Austin LLP; Jakob Dewispelaere – Sidley Austin LLP; Nils Gravenhorst – Sidley Austin LLP; William Gwyn – Sidley Austin LLP; Patrick Harrison – Sidley Austin LLP; Tom Hunter – Sidley Austin LLP; Christian Iwasko – Sidley Austin LLP; Karen Kazmerzak – Sidley Austin LLP; Mark Knight – Sidley Austin LLP; Luke Mason – Sidley Austin LLP; Martin Membery – Sidley Austin LLP; Jason Menzies – Sidley Austin LLP; Martin Michalski – Sidley Austin LLP; Bryan Robson – Sidley Austin LLP; Oliver Rosshandler – Sidley Austin LLP; Jamie Sadler – Sidley Austin LLP; Rachpal Thind – Sidley Austin LLP; Ellen Thomson – Sidley Austin LLP; Michelle Tong – Sidley Austin LLP; Colin Vo Kavanaugh – Sidley Austin LLP; Hui Zhen Gan – Sidley Austin LLP;

Law Firms: Sidley Austin LLP;

Clients: TowerBrook Capital Partners L.P.;