Celestyal Cruises and parent company Louis plc have announced the finalization of a strategic investment agreement with funds managed by Searchlight Capital Partners, a global leader in the private investment industry.
As part of the partnership, Searchlight will invest in a new holding company, Celestyal Holdings. This will facilitate Celestyal Cruises in strengthening its corporate identity internationally, building on the successes it has had to date, expanding its business footprint while at the same time developing and renewing its fleet. Celestyal Cruises will continue to operate with two cruise ships in its fleet from its offices in Piraeus, with the current international management team remaining in its leadership. It is noted that the Louis Group will continue to participate as a shareholder in the new company.
“Prior to the pandemic, Celestyal Cruises was on a dynamic growth trajectory and funding from Searchlight would further boost our strategy and accelerate our fleet renewal plan,” said Chris Theofilidis, Chief Executive Officer. Cruises. “We are extremely pleased to have our Searchlight strategic partner and look forward to joining forces by investing in our positive momentum, enhancing brand recognition worldwide, creating added value and raising the bar even higher for the award-winning experience we offer to our customers.” “The tourist season of 2022 seems solid and with this important development we are particularly excited about the future course of the company.”
“The cruise industry has shown exceptional resilience in the process of recovering from the pandemic and Celestyal Cruises, as the leading homeporting cruise company in Greece, has played a key role in the dynamic resumption of tourism in the country,” Ralph Ackerman, Associate, told Searchlight. . “We are excited to support Chris and his management team, but also to work with the Louis Group to become part of the next chapter in the development of Celestyal Cruises. We believe this partnership will help consolidate its position as the leading cruise company in the Eastern Mediterranean, enhancing the unique authentic experiences it offers and its business footprint “.
“With deep experience and excellent knowledge of the area where it operates, Celestyal Cruises has always been a strong company and an integral part of our Group”, said Mr. Kostakis Loizou, Executive Chairman of the Louis Group. “By securing additional funding from Searchlight, Celestyal Cruises’ future is even brighter. We look forward to making the most of the company.”
According to the announcement, Louis plc received professional advice on the matter from financial advisers Houlihan Lokey, London – legal advisers Hill Dickinson, London and Chrysis Dimitriadis, Cyprus – tax advisors PriceWaterhouseCoopers, Cyprus.
Searchlight received professional advice from Alvares & Marsal Financial Advisers – Willkie Farr & Gallagher LLP Legal Advisers – KPMG Tax Advisers – Lockton Insurance Advisors – Rennaissance Shipbroking Technical Advisers.
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Source From: Capital
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