Resource Partners, an independent private equity investment company founded in 2009, acquired an 80% stake in the ITH group, the parent company of the Romanian brand Vola.ro and Polish brand FRU.pl. Vola.ro is the leader of the online tourism market in Romania, with a presence in Poland, Bulgaria, and Moldova.

The deal creates new development opportunities for the group that also includes Vola.ro, and strengthens the role of the Romanian market as a central point of the group's activities, the company said.

Resource Partners supported a management buyout led by the Romanian management team. The growth capital funds 3TS Capital Partners and Catalyst Romania exited the company's shareholding, together with two of the group's Polish co-founders. Daniel Truică retains a significant minority stake and will continue to lead the group's strategic direction as CEO. 

In addition, Resource Partners has also chosen to retain the entire management team, underscoring their confidence in the team's ability "to sustain the company's success and growth." Also, other members of the management team have become shareholders.

Vola.ro CEO Daniel Truică said: "This transaction marks a new chapter for Vola.ro, where we will focus on growth and expansion into new markets in Europe."

In his turn, Aleksander Kacprzyk, Managing Partner at Resource Partners, stated: "The first investment in the Romanian market from the III fund managed by Resource Partners is an important moment in which we have the opportunity to publicly demonstrate our commitment to this market. Vola.ro is the leader of the online tourism industry in Romania. […] Moving forward, the company will benefit from our experience as investors in the consumer goods & services sector, especially in the eCommerce vertical, and the ITH group will strengthen and expand its leading position in the region, accelerating both geographical and product expansion.

In recent years, the Vola brand has crossed Romania's borders, becoming a reference name in Central and Eastern Europe. It now aims to expand into new international markets.

irina.marica@romania-insider.com

(Photo source: the company)