3i divests stake in leading marine travel specialist Instone International

3i, an international leader in private equity, has divested its significant minority stake in global marine travel specialist Instone International Ltd to corporate travel company ATP International Group, generating a return of over four times its investment.

Established in 1919, Instone offers complex corporate and marine travel solutions to merchant marine and offshore clients. Its 200 employees service the shipping and offshore markets from 25 locations in 16 countries on four continents. Instone has exhibited solid growth over the years and generated revenues in excess of €175 million in 2008.

3i initially backed Instone in late 2003 and provided a follow-on investment in 2006. During its investment period, 3i held a board seat position through which it helped to professionalise the business and implement a number of operational improvements.

3i Partner Klas Hillstrom commented on the transaction: “We are proud to have worked with Instone’s excellent management team over the past few years to drive forward the expansion of the company to its position today as a world-leading marine travel business. We are very pleased with our return on our investment and believe that Instone is very well positioned to continue its success under the leadership of ATP. “

ATP has acquired all shares in Instone. Global M&A Norway (Saga) advised 3i on the transaction.