EQT Private Equity sells majority stake in VFS Global. The advisors
EQT Private Equity has signed a definitive agreement to sell a majority stake in VFS Global to private equity funds managed by Blackstone. EQT Private Equity will retain a minority position in VFS Global alongside Blackstone and the Kuoni and Hugentobler Foundation (the “Foundation”) following the closing of the transaction by Q1 2022.
Headquartered in Zurich, Switzerland and Dubai, United Arab Emirates, VFS Global is a global provider of visa outsourcing services, such as administrative and non-judgmental tasks related to visa, passport and consular services for governments and diplomatic missions worldwide. The Company serves over 60 client governments through more than 3,500 visa application centers in more than 140 countries across five continents.
EQT Private Equity acquired Kuoni Group in May 2016, which at the time consisted of three business segments: GTA, GTS (Kuoni Global Travel Services) and VFS Global. Following a strategic repositioning of the business, the GTA and GTS segments were divested in 2017, allowing EQT Private Equity to focus fully on the development of VFS Global as a standalone portfolio company.
Niederer Kraft Frey advised in its capacity as lead counsel EQT Private Equity on the sale. The NKF team was led by m&a partner Till Spillmann (pictured above), working with m&a/finance partner Adrian Koller, senior associates Deirdre Ní Annracháin and Andrea Giger, associates Katalin Siklosi, Corinne Russi and Alessandro Stanchieri and junior associates Dominique Sunitsch, Max Hoffet (all m&a) as well partner Daniel Eisele and senior associate Anja Vogt (both dispute resolution) and partner Nicolas Birkhäuser (antitrust/competition).
Lenz & Staehelin acted as legal counsel to the Foundation in this transaction. The team comprised partner Tino Gaberthüel (pictured left), associate Simone Ehrsam and associate Alex Wille (all m&a).