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

H.I.G. Bayside Capital Europe Completes Refinancing of Riviera Travel

In a significant move for the travel industry, H.I.G. Bayside Capital Europe, a branch of the global investment firm H.I.G. Capital, has successfully finalized a refinancing deal with Riviera Travel. This new partnership is expected to provide the London-based travel company with a robust financial foundation for further expansion and growth.

What is Riviera Travel?

Riviera Travel is renowned for offering high-quality travel experiences, particularly tailored for individuals aged over 60. Established over 40 years ago, the company has built a strong reputation for its exceptional service, value for money, and a diverse selection of travel options. They currently offer around 170 unique itineraries, including guided tours and cruises across more than 45 countries.

Financial Details

The refinancing package includes a £125 million term loan, structured over five years, sourced from Bayside and Triton Debt Opportunities. The capital from this package will refinance existing debts, thus allowing Riviera's management team to focus on growth strategies without the burden of previous financial obligations.

Phil Hullah, the CEO of Riviera Travel, expressed enthusiasm regarding the partnership, stating, "We are thrilled to team up with Bayside and Triton for this new growth phase. This collaboration will enable us to continue investing in our operations to enhance customer experiences, develop our itineraries, and execute our strategic growth plans."

Future Growth and Investment Plans

The capital infusion from this refinancing is expected to empower Riviera Travel to expand their offerings further and improve their customer service framework. By investing in new travel routes and enhancing existing packages, Riviera looks poised to solidify its position as a leader in the travel sector dedicated to mature holiday travelers.

Insights from Management

Mathilde Malezieux, the Managing Director of Bayside, commented on the financial arrangement, stating, "Riviera has demonstrated impressive growth and sustainability within a lucrative market segment. Our loan will not only refinance Riviera’s existing debt but also provide the firm with sufficient capital flexibility to support its continued growth."

Bayside operates with a focus on mid-market companies, channeling investments that promise considerable long-term returns, reflective of their commitment to helping businesses like Riviera Travel thrive.

H.I.G. Capital Overview

H.I.G. Capital, the parent company of Bayside, is one of the largest alternative investment firms worldwide, managing over $68 billion in capital. The firm operates internationally, with offices in major cities across the United States and Europe. H.I.G. specializes in providing equity and debt financing to mid-sized firms, employing a hands-on approach to enhance operational performance and value.

Since its inception in 1993, H.I.G. has invested in and managed over 400 businesses globally, with a portfolio exceeding 100 firms generating combined revenue of $53 billion.

For any further inquiries or detailed information about H.I.G. Bayside Capital and Riviera Travel’s refinancing, H.I.G. can be contacted directly through their official communications channels. With this strategic move, both firms are set to navigate towards a promising future, fostering growth and innovation in the travel landscape.