Direct Ferries secures investment for expansion
Ferry ticket aggregator, Direct Ferries, has secured private equity backing to fund future growth.
The undisclosed amount has come from mid-market private equity firm, Livingbridge, which has already invested in several travel-related businesses, including car rental firm TravelJigsaw, now known as Rentalcars.com, Sykes Cottages and online travel agent OnTheBeach.
As part of the transaction, Beauport Partners, led by Greg Wills, will also be investing and providing strategic support to the Direct Ferries management team.
Wills was the co-founder and CEO of Rentalcars.com, which is now part of Priceline.
Direct Ferries said the funds would allow it to grow the number of ferry companies it partners with, invest in its global ticket distribution capability and expand further into Asian and US markets.
Founded in 2001, the London-based firm already sells ferry tickets for the likes of P&O Ferries, Stena Line and Brittany Ferries.
"Livingbridge is a great fit for our business with a proven track record in supporting fast-growing, online businesses and our aim is to capitalise on both their investment and their knowhow to boost our presence internationally and realise our growth potential," said Direct Ferries CEO Matt Davies.
"We are also excited about the opportunity to work with Greg and the Beauport team."
Direct Ferries reported revenues of £85m in 2015 and operates ferry ticket websites in 22 languages, covering over 1,970 ferry routes worldwide.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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