Widest choice of ski holidays from 60+ tour operators
#1 UK Ski Travel Agency
Impartial Expert Advice
Flights
Transfers
Accommodation

Iglu Heads For Europe With Major New Financial Partner

Iglu Heads For Europe With Major New Financial Partner

Gcp Backs Uk’s Leading Ski And Cruise Agent With £19 Million.

The UK’s leading online ski and cruise agent, Iglu.com, is planning to expand into Europe following the announcement today of a £19 million investment by the private equity house, GCP.

GCP has acquired a significant minority stake in Iglu.com after buying out previous investors Matrix Private Equity Partners.

Iglu’s founder and Chief Executive, Richard Downs, said: ‘It has long been my ambition to take the Iglu brand into Europe and the partnership with GCP will help make this a reality’.

All the Iglu team, headed by Managing Director, Simone Clark, are staying and the day-to-day running of the company from its Wimbledon headquarters will continue unchanged.

Richard Downs founded Iglu in 1998. It initially focused on ski and quickly became the UK’s leading retailer of packaged ski holidays. In 2006 the company entered the UK cruise retail market and is now the largest online cruise agent in the UK.

Iglu now employs 130 people and achieved sales of £90 million in the year to May 2012, an increase of 130 per cent over the past three years.

Simon Jobson, a GCP partner who is joining the Iglu board, said: ‘Iglu.com has capitalized brilliantly on the huge increase in the popularity of online travel, especially in the ski and cruise sectors.

'Our strong expertise and flexible funding structure will give Iglu the support it needs to become a leader in the European travel market including the relatively underdeveloped online market in Germany. There is also potential for some of our capital to fund future acquisitions.’

Richard Downs added ‘GCP was an attractive choice for us when looking for a supportive partner with the capacity to fund future growth. They provided all the funding on the deal, saving a huge amount of time and enabling us to come to an agreement quickly and efficiently.’

Related Stories

  • What’s new in Les Deux Alpes for winter 2017/2018

    If you are searching for a high altitude ski resort with the best snow conditions then it doesn’t get more snow-sure than Les Deux Alpes. With slopes soaring up to 3600m on the glacier, the resort has an amazing snow record and even opens for summer skiing from June to September. There isn&rsq...

  • Iglu Ski is shortlisted in 2 categories at the World Snow Awards 2017

    After the excellent news last week of being nominated in 2 categories at the Travolution Awards, we are over the moon to be shortlisted for 2 awards at the World Snow Awards! Presented by The Telegraph Ski & Snowboard Magazine, the World Snow Awards recognises the best companies in the ski indus...

  • Iglu Ski is nominated in 2 categories at the Travolution Awards

    We are delighted to be nominated for not just one, but two Travolution Awards. Iglu Ski has been nominated for Best Travel Agent Website and Best for Holidays. The Travolution Awards are unique in recognising companies who excel in the fields of online travel distribution, digital marketing and tech...