Risk Capital Partners, the private equity firm chaired by Luke Johnson, today announces that it has sold its majority stake in Cruise.co, the company which owns the UK’s largest online cruise holiday website, Cruise.co.uk, to Bridgepoint Development Capital for £52 million.
www.cruise.co.uk is the largest site in the UK for cruise reviews and cruise related questions and answers and publishes unique content and consolidates comparison tables of onboard facilities. The site also has direct access to every cruise line’s live inventory and pricing, providing users with real-time live availability. In addition, Cruise.co hosts the largest cruise forum community attracting 17 million visits per annum where avid and new cruisers can engage in topics about cruising.
Acquired in 2013, under Risk Capital Partners ownership, Cruise.co.uk has grown revenue at a compound annual rate of 23% and now serves over 80,000 passengers per annum.
Luke Johnson, Chairman of Risk Capital Partners, commented:
“Cruise.co continues to be the primary website for cruise research and related content. Thereafter, its specialist consultants provide the personal touch which ensures customers return. Customers continue to migrate online for research and Cruise.co has developed highly innovative ways to reach such new customers online. We have no doubt that Seamus and his management team will continue their impressive growth plan as they partner with such an ambitious and sizeable European-wide fund as Bridgepoint Development Capital.”
Seamus Conlon, Managing Director of Cruise.co, added: “Risk Capital Partners’ entrepreneurial approach has been ideal for our recent phase of growth. They have supported our investment in online marketing, which has helped expand our contact base and we have launched our International operations in both Australia and Ireland.”