#H.I.G. Capital #London #United Kingdom #Bayside Capital #Riviera Travel

H.I.G. Bayside Capital Europe Refines Riviera Travel's Financial Strategy

H.I.G. Bayside Capital Europe, the European arm of the investment giant H.I.G. Capital, renowned for its expertise in alternative credit, has successfully refinanced Riviera Travel. This strategic partnership stands as a pivotal moment, steering Riviera Travel toward sustained growth and enhancement of customer offerings.

A New Era for Riviera Travel

Riviera Travel, a distinguished UK-based travel brand known for creating exceptional guided tours and cruises aimed primarily at the over-60 demographic, has secured a new five-year unitranche term loan. The amounting £125 million loan, facilitated by both Bayside and Triton Debt Opportunities, not only restructures their existing financial obligations but also lays a robust foundation for the company's progressive strategies.

With over 40 years of industry expertise, Riviera has solidified its reputation by providing stellar service, remarkable value, and a variety of approximately 170 bespoke itineraries across more than 45 countries globally. This refined financial framework allows Riviera to further innovate and elevate its offerings in a competitive travel market.

Leadership Thoughts

Phil Hullah, the CEO of Riviera Travel, expressed excitement about this financial recalibration, stating, "We are thrilled to partner with Bayside and Triton for this next phase of growth. This collaboration will empower us to bolster our business, refine our itineraries, and effectively execute our growth plans."

The sentiment was echoed by Mathilde Malezieux, Managing Director at Bayside, who noted the remarkable trajectory of Riviera Travel. "Riviera has shown impressive success, yielding sustainable growth in a highly appealing market segment. The capital solutions provided through this refinancing not only addresses current debt but ensures a flexible capital structure that supports continued growth. We are eager to collaborate with Riviera as they embark on their next chapter."

About H.I.G. Bayside Capital

Bayside Capital, a component of H.I.G. Capital, specializes in addressing the financial needs of middle-market companies. Their focus spans from primary to secondary debt markets, always emphasizing long-term value. With substantial resources and expertise—spread across eight offices in the U.S. and Europe—Bayside combines considerable financial acumen with a tailored investment strategy to achieve superior risk-adjusted returns.

H.I.G. Capital, founded in 1993, manages an impressive $68 billion in capital, investing across various sectors, including manufacturing, services, and real estate. Their operationally focused approach ensures that they not only provide capital but also strategic insights to help businesses thrive.

In conclusion, this refinancing marks a significant milestone for Riviera Travel, enabling them to capitalize on their strengths and market presence, further enhancing their ability to serve customers with meaningful travel experiences. As they propel into a new growth phase, both H.I.G. Bayside Capital and Riviera Travel are set to navigate the dynamic landscape of the travel industry with renewed vigor.

Final Thoughts

In an energy-immersed market where customer experience reigns supreme, Riviera Travel's initiative to partner with established financial entities like H.I.G. Bayside is a testament to their dedication to service excellence and market responsiveness. The future looks bright, and travelers can anticipate even more enriching experiences on the horizon.