General Atlantic, CPPIB set to acquire Permira’s Boats Group
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Permira, the current owner of Boats Group, will retain a minority stake in the companyAuthor of the article:You can save this article by registering for free here. Or sign-in if you have an account.General Atlantic and Canada Pension Plan Investment Board are nearing a deal to acquire Boats Group, an online marketplace for recreational boats, according to people familiar with the matter.Subscribe now to read the latest news in your city and across Canada.Subscribe now to read the latest news in your city and across Canada.Create an account or sign in to continue with your reading experience.Create an account or sign in to continue with your reading experience.Private equity firm Permira, the current owner of Boats Group, will retain a minority stake in the company, the people said, asking not to be identified as the information is private. The deal values the online marketplace at over US$2 billion, the people said, adding that an announcement could come as soon as Thursday.Representatives for General Atlantic, CPPIB and Permira declined to comment.Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.The U.S.-based Boats Group owns and operates several websites and apps for boat sales, including Boat Trader, YachtWorld and boats.com. The company also provides financing plans for these purchases, according to its website.Permira agreed to acquire a majority stake in Boats Group in 2020 from Apax Partners, another private equity firm. The terms of the deal weren’t disclosed. The company has made technological upgrades under Permira’s ownership, introducing boat image recognition and AI-driven tools to simplify purchase and shopping experience.Evercore Inc. and Morgan Stanley have been advising on the sale, Bloomberg News reported last month.Bloomberg.comPostmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.365 Bloor Street East, Toronto, Ontario, M4W 3L4© 2025 Financial Post, a division of Postmedia Network Inc. All rights reserved. Unauthorized distribution, transmission or republication strictly prohibited.This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.You can manage saved articles in your account.and save up to 100 articles!You can manage your saved articles in your account and clicking the X located at the bottom right of the article.