Paralela 45 travel agency, which last year managed to dethrone its main rival, Eximtur, from the second position on the market through 40m-euro turnover, is worth around 20m euros.
"I evaluate my company at 18-20m euros considering the brand awareness we managed to build, countrywide expansion and the customer portfolio and generated turnover, but for the time being I'm not considering a sale," says Alin Burcea, the company's general manager and main shareholder.
In the case of a sale, Burcea is only considering the possibility of working with a strategic partner that should contribute to the firm's development.
The first important deal on the travel agency segment entailed the takeover of the biggest player on the market, Happy Tour, controlled by Demetriades family. Spain's GED Eastern Fund II, part of GED investment fund, took over 100% of the company's stock, with the deal being put at some 10m euros.
Paralela 45's turnover reached 40m euros last year, up 30% from 2006.
With this figure, the company practically leaps onto the second position in the among the top ten players on the market of travel agencies, leaving behind its main rival, Eximtur, whose turnover stood at 35m euros last year.
"Romanians' rising purchasing power is implicitly reflected in our turnover. For this year, I project turnover worth above 45m euros," says Burcea. According to the latest data, plane ticket sales accounted for 25% in total revenues, while holiday packages weighed 50%.
The company's activity currently unfolds through 22 territorial agencies, to which at least 15 new locations will be added this year, both in a franchise system and directly held. Investments will revolve around 0.2m euros.
Besides travel agency activities, Paralela 45 is one of the few companies on this market that has diversified its activity portfolio by develop
