Investcorp said it would continue to hold a substantial minority stake in the business and retain a seat on the Skrill board following the exit.
The company, which was founded in 2001, has more than 36 million account holders in its digital wallet business, which enables customers to make secure and simple online payments as well as instantly send and receive money online.
Investcorp initially invested €25m for a controlling stake in the company in March 2007, when Skrill was generating revenues of €7.8m and EBITDA of €3.7m. It bought Skrill outright for €105m later that year.
The firm bolted on paysafecard.com Wertkarten for €140m last year. In 2011 Investcorp cancelled an IPO for the company, blaming difficult market conditions for the decision.
The company now employs about 700 people and generated over €200m in revenues and €50m in EBITDA for the year ending 31 December 2012.
Hazem Ben-Gacem, head of Investcorp’s European Corporate Investment team, said: “Skrill and its management team have cultivated a market leading position during our ownership period over the past six years.
“We are proud to have been a part of a journey that has led to Skrill becoming one of the key global players in the online payments marketplace.
“We are looking forward to continuing our partnership with the Skrill management team and our new partners at CVC Capital Partners to pursue the company’s growth objectives.”
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