Carlyle secures second Spanish bolt-on in a week

Global buyout firm The Carlyle Group has combined travel website Rumbo with Orizonia in a joint venture alongside Spanish telecoms giant Telefonica.

The Carlyle Group has carried out its second deal for a Spanish company this week, paying an undisclosed sum to acquire a 50 percent stake in Spanish online travel agency Rumbo for its portfolio company Orizonia Corporación.

Toledo: A Rumbo

Spanish telecoms company Telefonica has acquired the other 50 percent stake. As part of the transaction Rumbo will acquire online travel agency from Orizonia Corporación and Terra Business Travel, Telefónica's corporate travel division.

Predicted turnover at Rumbo will be more than €500 million ($338.1 million) in 2008. Rumbo and Orizonia together had a turnover of €3 billion in 2007.

It is the fourth deal by Orizonia since Carlyle bought the company in 2006 alongside Banco Santander’s captive firm Vista Capital for an undisclosed sum. As well as acquiring, it has acquired Condor Vacaciones, an online travel agency and it has created a joint venture with Carnival Corporation.

Earlier this week Carlyle began a planned buy and build strategy at Spanish inspection company Applus, which bolted on MB Inspection in a trade buy for an undisclosed sum.