Ropes & Gray has advised Silverfleet Capital, the Pan-European private equity firm that specialises in buy-to-build, on its acquisition of a majority stake in Riviera Travel, a leading specialist holiday operator offering a global portfolio of escorted tours and cruises.
Founded in 1984 and based in Burton-on-Trent in the UK, Riviera is a leading operator of escorted tours with a focus on the over 55s market. The company provides European tour holidays, river and ocean cruises, city breaks, and long-haul tours with varied itineraries combining leisure with education and entertainment. Riviera continues to diversify its range of holidays and currently offers tours and cruises to 50 countries, attracting over 118,000 customers per year.
The deal is expected to complete shortly and the terms of the transaction were not disclosed.
The London-based Ropes & Gray team was led by private equity partners Phil Sanderson (Picture) and John Newton and finance partner Malcolm Hitching, assisted by private equity associates Electra Callan and Tarun Patel and finance associate Nick Cusack.
Involved fees earner: Philip Sanderson – Ropes & Gray; John Newton – Ropes & Gray; Electra Callan – Ropes & Gray; Tarun Patel – Ropes & Gray; Malcolm Hitching – Ropes & Gray; Nick Cusack – Ropes & Gray;
Law Firms: Ropes & Gray;
Clients: Silverfleet Capital;