The owners of Dublin-based Web Reservations International have netted almost US$500m from the sale of the company to San Francisco-based private equity firm Hellman & Friedman.
Hellman & Friedman bought the reservation company for US$340m in cash but WRI’s shareholders have already received US$150m in payouts in the past few years.
According to the Irish Business Post the biggest individual beneficiary of the deal was company co-founder and former chief executive Ray Nolan, who is believed to have made more than US$100m.
The majority (80%) is owned by management, staff and original backers. US VC firm Summit Partners owned the remainder.
Founded in 1999 by Nolan, WRI is an online booking service for hostels. It sold €350m worth of accommodation last year, generating revenues of €38m.