Volotea (V7, Barcelona El Prat) has completed a change in its shareholding following the exit of venture capital firms, CCMP Capital and Corpfin.
In a statement, the Spanish budget carrier welcomed US-based venture capital firms HRS Managment and Elysium Capital Managment alongside European firms Meridia Capital, Rijm Capital, and Rocinante. Similarly, founder and CEO Carlos Muñoz along with the main members of the management team have also increased their respective shareholdings in the carrier.
"Today, we have taken an important step forward in the still short life of Volotea, and we are proud to incorporate solvent shareholders, of recognized prestige and with a long-term investment vocation, which will enhance the company's strategy and its enormous growth potential," Muñoz said in a statement.
Prior to this shakeup, Volotea was owned by CCMP with 49% of the shares, the management team with 26%, and Corpfin and Axis with 25%. Despite Corpfin's exit, Axis has maintained a shareholding in Volotea.
With this change in ownership, and in light of its strong growth trajectory, Volotea has put itself on course for a possible IPO due in 2020/21.
