On the Beach bought by private equity firm
Online travel agent On the Beach has been sold by ISIS Equity Partners to Inflexion Private Equity.
Last month TravelMole reported that Inflexion has entered exclusive talks to buy the online agency, which was founded by Simon Cooper, 41, from a house in Macclesfield, see previous story.
It said the sale would generate a profit for Isis, a rival buyout firm, which has supported On the Beach for six years allowing it to invest heavily in technology.
New owner, Inflexion, will be backing the existing management team who will remain with the business, led by Cooper.
He said: "This is fantastic news for our business and we are delighted that Inflexion is investing in the next stage of growth for On the Beach.
"With their proven track record of working with businesses to grow both domestically and internationally, as well as their experience in the online retail sector, we feel they are the right partner for our business and we look forward to working together."
Simon Turner, managing partner at Inflexion, said: "On the Beach has grown rapidly over the last few years, taking market share from traditional, high street travel agents.
"The company has an exceptional management team which has developed a sophisticated and well-invested technology platform.
"Following our investment, we’ll support them to further grow the business in the UK, explore opportunities for international expansion and, with the help of our digital director, ensure the business is digitally optimised."
Diane
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