Loveholidays sells majority stake
Love holidays, which claims to be the UK’s fastest growing online travel agency, has sold a majority stake to Livingbridge, a mid-market private equity investor.
Founders Alex Francis and Jonny Marsh said the sale would allow loveholidays to explore further growth opportunities in the UK and internationally.
Both will remain with the business, leading the senior management team, which is being retained.
"This investment is great news for our business and we are delighted that Livingbridge is investing in the next stage on our really exciting journey and will enable us to drive the business further forwards," said Francis.
"We have seen significant growth since we founded loveholidays in 2012 and will continue to offer our customers the great choice and booking flexibility for short and long haul beach holidays that they have grown to love."
Daniel Smith, partner at Livingbridge, said: "Having known Alex and his team for years, we’re thrilled to be partnering with them.
"With an experienced and ambitious management team, best-in-class technology platform and a disruptive customer proposition, loveholidays is an incredibly exciting travel business with a fantastic future ahead."
Marsh added: "Livingbridge are very experienced investors in this sector with a proven track record having backed Enigma Travel, On the Beach and Travel Jigsaw and we are excited to be working with them.
"The market is growing with online dynamic packaged holidays accounting for £3 billion of holiday spend in 2017 and we are well placed with this additional investment to drive further growth."
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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