Stockport based online travel intermediary ‘On the Beach’ has been sold by its private equity owners, ISIS Equity Partners, in a deal worth £73m.
On the beach is based at former PZ Cussons offices – Park Square, Cheadle – and has been sold to Inflexion Private Equity, which has owned a majority stake since 2007. At £73m, the deal has delivered a
3 times return for ISIS’s clients, according to a statement released earlier, which also reported that On the beach has grown from £78m in 2007 to £280m today.
The company, which now employs now more than 200
people selling flights, hotel accommodation and
associated products including insurance and airport
car parking, is expected to continue to be led by
chief executiv Simon Cooper.
Simon Cooper commented:
“We are delighted that Infexion 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”.
Inflexion plans to support further UK growth as well as explore opportunities for international expansion and ensure the business is ‘digitally optimised’.
On the Beach says it has attracted 40m visitors to its website in 2013 and served 900,000 customers.
– See more at: www.tnooz.com