Waterland sells A-Rosa to Duke Street

The sale ends an almost nine-year holding period for Waterland, which acquired the company in April 2009.

Under Waterland's ownership, the company's revenues rose from €45m in 2008 to €82.4m in 2016. This was the result of expanding its fleet from six to 11 cruise ships and adding the Rhine and Seine rivers to its areas of operation.

The investment was consistent with Waterland's leisure and luxury and ageing population themes, as outlined in the firm's unquote" GP profile.

Duke Street plans to expand A-Rosa's fleet size and launch its product onto new rivers, while increasing its exposure to markets outside Germany.

Company
A-Rosa is a river cruise operator on Europe's Danube, Rhine/Main/Moselle, Rhône/Saône and Seine rivers. The company was established in 2001 as a subsidiary of P&O Princess Cruises and was originally developed as the river cruise complement to Aida ocean cruises. Based in the northern German city of Rostock and in Chur, Switzerland, A-Rosa has 600 employees and operates a fleet of 11 vessels. It carried 85,000 passengers in 2017.

People
Waterland Private Equity – Jörg Dreisow (managing partner).
Duke Street – Charlie Troup (managing partner).
A-Rosa – Jörg Eichler (CEO).

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• Topics
• Exits
• Buyouts
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• Secondary buyout
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• Duke Street