US activist investor Ananym Capital has taken a stake in CTS Eventim, Europe’s largest ticket seller, arguing the company is significantly undervalued and could be worth 50% to 100% more. Neither party has disclosed the size of the holding, and CTS Eventim has not issued a public response. Ananym has also not filed a German voting rights notification, which is mandatory once a stake exceeds 3%.
Co-founder Penner stated the firm is in no rush to exit, calling it a long-term investment. Known for a collaborative approach, Ananym plans to work with management rather than oppose it. Its proposals include greater transparency on CTS Eventim’s business model, a stable management structure, and a share buyback.
The firm, led by Penner and co-founder Alex Silver, emphasizes constructive engagement with portfolio companies. The move signals growing activist interest in European ticketing firms amid digital transformation and market consolidation.
Source: PE Insights · Summarized by HeadlinesBriefing