Salford cruise company completes MBO

Wed, 18 Nov 2015 | MBO/MBI

A cruise company based in the Salford Quays has announced the completion a management buyout.

Cruise1st said that the MBO will enable the firm to experience "significant" growth as it looks to broaden its product range and increase market share. The management team added that the company would now be able to grow "independently", with a major focus remaining on lowering prices for customers through efficiency gains and embracing new technologies.

Cruise1st is a digital media company and an internet and teletext trading division of Sunshine Cruise Holidays and wholly owned by Royal Caribbean Cruises. The firm has grown by more than 60 per cent this year and relies heavily on repeat business, which accounts for 40 per cent of its customer base.

By the end of next year the company is expecting to gain an even stronger foothold in the cruise holiday market. The MBO, which international law firm Hill Dickinson advised on, reportedly had 100 per cent backing from the existing staff.

Dan Townsley, Cruise1st chief executive, said: "Working with Royal Caribbean over the past seven years has been fantastic and its support has been crucial in the growth of our company.

"We are confident that the management will allow the business to grow and succeed, supported by our ability to be nimble and expand into new product ranges with more cruise lines. With independence, our focus will remain on expanding our product base with the aim of including a world-wide tour operator, more cruises with inclusive tours and a selection of river cruises."


Find a business for sale


Share this article



Latest Businesses for Sale

Courier Business
UK Wide

Long-established courier business, which has an excellent reputation for providing a bespoke and rapid response service to its loyal client base. Established 20 years+. Excellent reputation for speedy, flexible and efficient service, 365 days of the...

Asking Price: Offers Invited
Turnover: £600,000

LEASEHOLD


Manufacturer & Retailer of Textiles
UK Wide

This long established company is a second generation family business specialising in the design, manufacture, installation and retailing of blinds, fabrics and wallpapers. Offers invited.

Asking Price: Offers Invited
Turnover: £500,000

LEASEHOLD


Microsoft Independent Software Vendor Partner
Midlands, UK Wide

Microsoft 365 ISV & Services Partner – Healthcare and Public Sector. An opportunity has arisen to purchase an established Microsoft Independent Software Vendor Partner (ISV) providing Software, ‘SaaS’ and Services for Microsoft 365 Information Manage...

Asking Price: Offers Invited
Turnover: £1,200,000


View more businesses for sale

News Search

Latest News

 
06
 
Jul
 

Aviation claims specialist enters administration | ADMINISTRATION

Didsbury-based aviation claims specialist Flight Reclaim has...

 
03
 
Jul
 

Next completes sale and leaseback of head office and warehouses | COMMERCIAL PROPERTY

High street fashion retailer Next Plc has confirmed the succ...

 
02
 
Jul
 

Benchmark Holdings secures sale of veterinary business | BUSINESS SALE

Sheffield-headquartered aquaculture health, nutrition and ge...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources