Advent pays $343m for 30% stake in LatAm loyalty points business LifeMiles

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money-256314_1280Global buyout house Advent International has picked up a 30 per cent stake in Latin America-focused loyalty points business LifeMiles from parent company Avianca Holdings in a $343m deal.

Aviance will continue to hold a 70 per cent stake in LifeMiles, which had more than six million members at the end of March.

Advent managing director Mario Malta said, “We believe LifeMiles will benefit from the fundamental trends in Colombia and other key markets, including continued growth in consumer spending, travel and credit card use.

“We look forward to sharing our retail, and financial services sector expertise and leveraging our network to accelerate the Company’s growth.”

Advent said it has been investing in sectors complementary to LifeMiles and its commercial partners for more than two decades.

The firm has completed 65 investments in the business and financial services sector and 65 investments in the retail, consumer and leisure sector across 20 countries.

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