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

  • 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...

  • New Mountain Collection hotel and chalet

    We are excited to announce 2 new properties to the Neilson Mountain Collection for winter 2017/18. Hotel Dolomites Inn in Canazei, Italy and Chalet Ruby in Les Deux Alpes, France are welcomed additions to the, now, 26 strong group of ski properties. The Mountain Collection is a unique set of ski cha...

  • What’s new in Meribel for winter 2017/2018

    It’s been a busy summer in the 3 Valleys with many upgrades and new features in resorts across this mega ski area. Our best-selling 3 Valley’s resort, Meribel, has some of the most exciting developments for winter 2017/18 including new lifts, chalets and fun features across the resort. T...