H.I.G. Bayside Capital Europe Completes Significant Refinancing Deal with Riviera Travel
On April 8, 2025, H.I.G. Bayside Capital Europe announced the successful completion of a refinancing agreement with Riviera Travel, a well-respected global travel brand. This marks a significant step for both H.I.G. Bayside and Riviera Travel as they work together to drive growth in a competitive market. The refinancing will be executed through a five-year Unitranche loan amounting to £125 million, to be funded jointly by Bayside and Triton Debt Opportunities.
Riviera Travel has been a leader in the travel industry for over four decades, especially recognized for its exceptional guided tours, cruises, and solo travel experiences. The company primarily caters to the over-60 demographic, having built a stellar reputation for not only providing quality experiences but also for maintaining excellent customer service and delivering outstanding value. Offering around 170 unique travel routes across 45 countries, Riviera Travel has endeavored to enhance the travel experiences of its clients.
The newly secured financing aims to refinance existing loans while also providing a robust platform for Riviera's management, led by CEO Phil Hullah, to capitalize on the impressive growth trajectory achieved since Silverfleet Capital acquired the company. CFO David Whatley expressed optimism about the partnership with Bayside and Triton. "This collaboration will enable us to continue investing in our business to improve customer experience, enhance our travel routes, and execute our strategic growth plans," he remarked.
Mathilde Malezieux, Managing Director at Bayside, praised Riviera’s remarkable success story, noting the company's ability to sustain significant growth within an attractive market segment. The loan arrangement not only aims to settle current debts but is also designed to facilitate further development opportunities for Riviera Travel, supporting its burgeoning expansion plans.
H.I.G. Bayside Capital operates as the special situations arm of H.I.G. Capital, focusing on mid-market companies and actively investing across various segments in both primary and secondary debt markets. With an emphasis on achieving long-term returns, Bayside is adeptly positioned to utilize its extensive resources and expertise to generate superior risk-adjusted returns.
Headquartered in Miami, H.I.G. Capital is a leading global alternative investment firm managing approximately $68 billion in capital. It has built a formidable reputation for providing flexible and value-added approaches to both equity and debt financing for middle-market businesses. Operating worldwide, H.I.G. has made investments in over 400 companies and continues to maintain a diverse portfolio with revenues exceeding $53 billion, underscoring its vast influence and reach within the investment landscape.
As the tourism industry evolves post-pandemic, strategic partnerships like the one between H.I.G. Bayside and Riviera Travel could be pivotal in enhancing operational capabilities and capturing greater market share. This collaboration not only strengthens Riviera’s financial footing but also positions it for sustainable growth in the years to come. The future looks bright for Riviera Travel as it embarks on this new chapter of expansion with H.I.G. Bayside Capital by its side. With the firm’s continued dedication to providing high-quality travel experiences, the investment will undoubtedly yield valuable returns for both organizations involved in this strategic refinancing deal.
Through this refinancing, Riviera Travel is set to expand its offerings and improve the customer journey, meeting the increasing demands of its clientele. As they continue to innovate and grow, the partnership with H.I.G. Bayside stands as a testament to their commitment to excellence and growth in the travel industry.
Riviera Travel has been a leader in the travel industry for over four decades, especially recognized for its exceptional guided tours, cruises, and solo travel experiences. The company primarily caters to the over-60 demographic, having built a stellar reputation for not only providing quality experiences but also for maintaining excellent customer service and delivering outstanding value. Offering around 170 unique travel routes across 45 countries, Riviera Travel has endeavored to enhance the travel experiences of its clients.
The newly secured financing aims to refinance existing loans while also providing a robust platform for Riviera's management, led by CEO Phil Hullah, to capitalize on the impressive growth trajectory achieved since Silverfleet Capital acquired the company. CFO David Whatley expressed optimism about the partnership with Bayside and Triton. "This collaboration will enable us to continue investing in our business to improve customer experience, enhance our travel routes, and execute our strategic growth plans," he remarked.
Mathilde Malezieux, Managing Director at Bayside, praised Riviera’s remarkable success story, noting the company's ability to sustain significant growth within an attractive market segment. The loan arrangement not only aims to settle current debts but is also designed to facilitate further development opportunities for Riviera Travel, supporting its burgeoning expansion plans.
H.I.G. Bayside Capital operates as the special situations arm of H.I.G. Capital, focusing on mid-market companies and actively investing across various segments in both primary and secondary debt markets. With an emphasis on achieving long-term returns, Bayside is adeptly positioned to utilize its extensive resources and expertise to generate superior risk-adjusted returns.
Headquartered in Miami, H.I.G. Capital is a leading global alternative investment firm managing approximately $68 billion in capital. It has built a formidable reputation for providing flexible and value-added approaches to both equity and debt financing for middle-market businesses. Operating worldwide, H.I.G. has made investments in over 400 companies and continues to maintain a diverse portfolio with revenues exceeding $53 billion, underscoring its vast influence and reach within the investment landscape.
As the tourism industry evolves post-pandemic, strategic partnerships like the one between H.I.G. Bayside and Riviera Travel could be pivotal in enhancing operational capabilities and capturing greater market share. This collaboration not only strengthens Riviera’s financial footing but also positions it for sustainable growth in the years to come. The future looks bright for Riviera Travel as it embarks on this new chapter of expansion with H.I.G. Bayside Capital by its side. With the firm’s continued dedication to providing high-quality travel experiences, the investment will undoubtedly yield valuable returns for both organizations involved in this strategic refinancing deal.
Through this refinancing, Riviera Travel is set to expand its offerings and improve the customer journey, meeting the increasing demands of its clientele. As they continue to innovate and grow, the partnership with H.I.G. Bayside stands as a testament to their commitment to excellence and growth in the travel industry.
Topics Financial Services & Investing）
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