Iglu.com has been the subject of a management buy-out backed by Matrix
The Consumer sector team Arrowpoint Advisory has successfully advised management on the refinancing of Iglu.com, the online travel retailer, by Matrix Private Equity Partners LLP. The deal provides an exit for the founding institutional investors, including Barclays Ventures and Geocapital Partners.
Iglu is the largest independent retailer of ski holidays and the fastest growing specialist cruise agent in the UK. The investment from the new owners will be used to fund Iglu's growth, particularly in its cruise division. Iglu founder Richard Downs will remain as CEO and existing non-executive director Martyn Williams will become Chairman
Richard Downs said: “In what some commentators were saying was a slow market, Arrowpoint Advisory attracted a high number of very interested investors, were very proactive in creating and shaping the structure of the deal and successfully got all stakeholders over the line using their specialist market knowledge and transactional expertise. We were very impressed with their commitment and professionalism.”
James Lever, Managing Director at Arrowpoint Advisory, said: “The Matrix investment in Iglu will allow management to build upon the Company's existing strong brand and market position in ski and cruise and to continue their impressive recent growth. Our strong sector expertise enabled us to find the most suitable investors to support Iglu's position as a top UK leisure brand.”