• Home
  •  
    Regions
    • Europe
    • UK & Ireland
    • DACH
    • Nordic
    • France
    • Southern Europe
    • Benelux
    • CEE
    • Asia
  •  
    Deals
    • Buyouts
    • Venture
    • Exits
    • Refinancings
    • Build-up
    • Turnaround
    • Secondaries
    • Advanced deals search
  •  
    Funds
    • Buyout
    • Venture
    • Mezzanine
    • Debt
    • Funds-of-funds
    • Secondaries
    • Fundraising pipelines
    • Advanced funds search
  •  
    GPs & LPs
    • GP profiles
    • LP profiles
    • GP news
    • LP news
    • Sponsors search
    • LPs search
  •  
    Secondaries
    • Deals
    • Funds
    • News
    • Analysis
  •  
    People
    • People moves
    • Analysis
    • In Profile
    • Q&A
    • Videos
    • Comment
  •  
    Analysis
    • In Profile
    • Fundraising
    • Q&A
    • Comment
    • Videos
    • Podcast
    • Reports
    • Data Snapshots
  •  
    Unquote Data
    • Deals search
    • Exits search
    • Funds search
    • Sponsors search
    • Advisers search
    • LPs search
    • League tables
    • Reports
  • Sign in
  • Sign in
    • You are currently accessing unquote.com via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0)203 741 1137

      Email: Georgina.Lawson@acuris.com

      • Sign in
     
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • Twitter
    • LinkedIn
  • Free Trial
  • Subscribe
Unquote
Unquote
  • Home
  • Regions
  • Deals
  • Funds
  • GPs & LPs
  • Secondaries
  • People
  • Analysis
  • Unquote Data
  • You are currently accessing unquote.com via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0)203 741 1137

    Email: Georgina.Lawson@acuris.com

    • Sign in
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
Unquote
  • Refinancing

Searchlight invests in Celestyal Cruises

  • Harriet Matthews
  • Harriet Matthews
  • 29 November 2021
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  

Searchlight Capital Partners has invested in Greece-headquartered cruise line company Celestyal Cruises.

The deal is structured as a recapitalisation alongside the company's existing owners. It will see Searchlight make an investment into a new holding company called Celestyal Holdings.

According to press coverage, Searchlight is to acquire a majority stake in the company and will provide EUR 70m in fresh capital, including an initial tranche of EUR 30m and a revolving credit facility of EUR 10m. The deal will see Celestyal recapitalise a EUR 31.75m loan from Louis Hotels, according to the same report.

Celestyal Cruises

  • DEAL:

    Recapitalisation

  • LOCATION:

    Piraeus

  • SECTOR:

    Recreational services

  • FOUNDED:

    2014

Existing shareholder Louis Group, a tourism and leisure group, will continue as an investor in the new holding company.

Cruise operators and international travel providers have suffered over the course of the coronavirus pandemic and its travel restrictions, with fresh doubt cast over the sector due to the emergence of the new omicron coronavirus variant. Celestyal was on a growth trajectory prior to the pandemic, the company said in a statement.

Searchlight's previous travel and leisure sector investments include VC-backed GetYourGuide, a Berlin-headquartered travel agency and online marketplace for tour guides.

Searchlight is investing via Searchlight Opportunities Fund, which held a final close in April 2018 on USD 386m. The vehicle generally makes passive investments, including subordinated, unsecured and convertible debt, as well as PIK notes and preferred and structured equity.

The GP registered its second Opportunities Fund in June 2021, according to a regulatory filing.

Company
Founded in 2014 and headquartered in Piraeus, Celestyal operates cruises around the Greek ssland and the east Mediterranean via two vessels.

People
Searchlight Capital Partners – Ralf Ackermann (partner).
Celestyal Cruises – Chris Theophilides (CEO).
Louis Group – Costakis Loizou (executive chairman).

Advisers
Vendor – Houlihan Lokey (corporate finance); Hill Dickinson (legal); Chryses Demetriades (legal); PwC (tax).
Debt – Willkie Farr & Gallagher (legal); Alvares & Marsal (corporate finance); KPMG (tax); Lockton (insurance due diligence); Renaissance Shipbroking (shipbroking).

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
  • Topics
  • Refinancing
  • Southern Europe
  • Consumer
  • Greece
  • Recapitalisation
  • Refinancing

More on Refinancing

The Unquote Podcast
Unquote Private Equity Podcast: The PE auction in times of exit scarcity

Rachel Lewis joins Harriet Matthews to discuss how auction process dynamics are changing against the current market backdrop

  • Industry
  • 23 January 2023
Banks and financial institutions
Alcentra takes keys to three PE-backed companies this year

Under Benefit Street Partners' ownership the alternative lender took over Lifetime, Optionis and Equiom

  • Refinancing
  • 16 December 2022
Pharmaceuticals
Gyrus Capital's Essential Pharma refinances, inks two deals

In parallel with the refinancing, Essential Pharma completed two M&A deals in December

  • Refinancing
  • 22 December 2021
Fundraising in euros
Carlyle backs European strategies with ESG facility

Credit facility is linked to targets such as board diversity and greenhouse gas emissions monitoring

  • GPs
  • 07 September 2021

Latest News

Fund closes in US dollars
  • Funds
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote

  • 05 September 2023
Clinical trials and biotechnology
  • Buyouts
Permira to take Ergomed private for GBP 703m

Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO

  • 04 September 2023
Public sector software
  • Exits
Partners Group to release IMs for Civica sale in mid-September

Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017

  • 04 September 2023
EMEA Public to Private M&A
  • Investments
Change of mind: Sponsors take to de-listing their own assets

EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater

  • 04 September 2023
Back to Top
  • About Unquote
  • Advertise
  • Contacts
  • About Acuris
  • Terms of Use
  • Privacy Policy
  • Group Disclaimer
  • Twitter
  • LinkedIn

© Merger Market

© Mergermarket Limited, 10 Queen Street Place, London EC4R 1BE - Company registration number 03879547

Digital publisher of the year 2010 & 2013

Digital publisher of the year 2010 & 2013