Iglu eyes European expansion after new investment




Matrix Private Equity Partners has sold its minority stake in Wimbledon-based ski and cruise specialist Iglu.com for £19 million.

The stake has been purchased as part of a secondary MBO financed by Growth Capital Partners.

Matrix originally invested £4.3m in the MBO of Iglu in December 2009 and has helped the online ski agent grow its cruise holiday business.

It claimed that during the period of ownership, revenues and profits have more than doubled to make Iglu "the largest independent retailer of ski holidays" in the UK and one of the UK's largest online cruise agents.

The company"s revenues now exceed £90 million.

Iglu founder and managing director Richard Downs said: "Matrix has been an excellent and supportive financial partner over the past two and a half years. We now look forward to further growing our presence in the cruise market both domestically and in Europe."
 

Friday, June 1, 2012



Your Comments

, be the first to post a comment.
Your email:






Email other comments made to this story
Code Request a new picture 5 characters



NOTE: Comments are subject to admin approval before being posted.
Mole Poll
Are customers losing interest in cruising?
Yes 53.54 %
No 46.46 %

Thank you for your vote



Get Adobe Flash player
LATEST MOLES' GALLERIES
UPCOMING EVENTS
Sponsored features

The results are in: eco-certification delivers better business for hoteliers

Once again world-class research shows eco-certified hotels are proven to operate more efficiently and attract guests who help them save money and the environment.

Our Green Globe members have for many years reported efficiency gains in resources, particularly energy and water, from 5% to 20% per year. 

For more information about Green Globe and its certification standard and independent audits visit www.greenglobe.com