Iglu.com

Specialist online travel agent, distributing ski and cruise holidays in the UK

  • Sector: Consumer
  • Location: London
  • Website: https://www.iglu.com/
  • Date of investment: May-12
  • Exit date: Jun-15
  • GCP board member: James Blake

About

Specialist online travel agent, targeting the UK market
Founded in 1998 by Richard Downs
Initially focused on ski holidays and is now the dominant agent in this market
Entered the cruise holiday marketplace in 2006 and grew rapidly to become the largest online player in 2013
 

Why we invested

GCP identified Iglu.com as a market leading business that had successfully capitalised on the channel shift from offline to online, especially in the ski market
We were impressed by the high caliber operational management team and proven entrepreneurial leadership of Richard Downs
Gaining market share in a growing UK cruise sector

How we made a difference

GCP underwrote the entire transaction, providing the debt and equity on the deal
Provided further follow-on funding and played a key role in executing the strategic bolt-on acquisition of Planet Cruise, making Iglu the largest online cruise agent in the UK
Worked with the FD to implement a new framework for cash flow monitoring and reporting against the regulatory environment in which it operates
GCP worked alongside management to facilitate a successful sale of the business to LDC.

GCP provided all the funding on the deal, saving a huge amount of time. This enabled us to come to an agreement quickly and efficiently

Richard Downs Founder and Chief Executive, Iglu
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