08 Oct 2013 | 09:23 am |
International law firm Pinsent Masons has advised leading independent private equity house, Inflexion, on the buy out of online travel agent onthebeach.co.uk.
Based in Cheadle, On the Beach carries more than 900,000 passengers each year and has says it has grown rapidly on the back of significant investment in technology, content and marketing.
Simon Turner, Managing Partner at Inflexion, commented: “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.”
Pinsent Masons acted for Inflexion. The team was led by Gregg Davison, supported by James Fitzgibbon, Amie Norris, Lisa McMullan and Rupert Bent. Commenting, Gregg Davison said:
“We are delighted to have advised Inflexion through this process and we congratulate them and the superb management team on this transaction. This deal highlights the appetite and potential for further growth in the travel sector, this being the third private equity transaction we have completed since the summer for online travel retailers.”
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