Landsbankinn Corporate Finance acted as advisor to the sellers on the sale of 100% of shares in Nicetravel ehf., one of the leading operators of organised small-group tours for visitors to Iceland. The company was acquired by a group of domestic investors.
The founders of Nicetravel, Tryggvi Thór Ágústsson and Stefán Thór Gunnarsson, will work alongside the new owners over the coming months to ensure a smooth transition.
Engilbert Hafsteinsson leads the investor group and will also take over as the company's managing director.
Nicetravel was founded in 2012 and specialises in tours for small groups, with an emphasis on personal service, quality, safety and a unique experience of Icelandic nature.
The company has grown steadily since its establishment and today generates an annual turnover of over ISK two billion while maintaining a good profitability. Its success is built on a skilled team, efficient fleet management, a high share of direct sales and a clear business model that provides a solid platform for continued growth.
Advisors to the seller were Landsbankinn Corporate Finance and Magna lögmenn. Advisors to the buyer were Arion Bank and Nordik Legal Services.
Photo, from the left: Valur Fannar Þórsson and Jóhann Einarsson from Arion Bank Corporate Finance, Engilbert Hafsteinsson, investor, Stefán Thór Gunnarsson, founder and outgoing Managing Director of Nicetravel, Tryggvi Thór Ágústsson, founder and outgoing CEO of Nicetravel, Guðrún Nielsen and Einar Snær Ásbjörnsson from Landsbankinn Corporate Finance.
