Risk Capital acquires Cruise.co

The company's management team is led by Seamus Conlon and Andrew Gardner, who together own the rest of the equity.

This acquisition is Risk Capital's first in the online travel market. The GP provided fresh capital in order to back Cruise.co's expansion in the UK and internationally, particularly in the Irish and Australian markets. The company will also look to further develop its online offering.

Earlier this week, Risk Capital acquired a majority stake in restaurant chain Red Hot World Buffet.

Risk Capital was established in 2001 by Luke Johnson and Ben Redmond, and focuses on investing in medium-sized companies in the £10-30m range. It typically invests £3-15m of equity in its portfolio companies.

Risk Capital currently owns Patisserie and Bread Holdings, and previous investments include Giraffe, Signature Restaurants and Strada.

Company
Based in Redditch, Cruise.co is a holding company that owns both www.cruise.co.uk and www.cruises.co.uk. With 65,000 cruise passengers every year, Cruise.co had a turnover of £64m in 2012.

People
Luke Johnson is chairman of Risk Capital. Seamus Conlon is managing director of Cruise.co.

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• Topics
• UK / Ireland
• Buyouts
• Consumer
• United Kingdom
• Risk Capital Partners