In December 2014, private equity firm Phoenix invested in Riviera, the UK’s market leading provider of overseas escorted tour holidays, for an undisclosed consideration.

Transaction Role

Duff & Phelps was engaged by Phoenix to provide corporate finance advice on their investment in Riviera Travel.

•Duff & Phelps’ travel sector team provided high quality advice based on significant experience in the travel sector, in a competitive process and in a complex regulatory environment.

•The advisory team managed an accelerated buy-side timetable to ensure completion within an exclusivity period of three weeks.

Testimonial

David Burns, Managing Partner at Phoenix, commented: “We are delighted with the advice that Duff & Phelps gave us regarding the investment in Riviera. Throughout the process, Duff & Phelps provided us with sound judgment and played a key role in this process. Their understanding of, and their relationship with, the business, the sector and the regulator, were critical to achieving a successful outcome.” 

Henry Wells, Managing Director at Duff & Phelps, commented: “Riviera is a high quality, market leading business in a strong sector. The business has a great management team and culture and with Phoenix’s significant support and experience, will be able to further develop the business, grow market share and fulfill their growth potential.”

About Riviera

Riviera Travel (“Riviera”) is one of the UK’s leading overseas escorted tour and river cruise companies. It has been delighting customers with its holidays throughout its 30 year history, and is truly passionate about travel. Riviera has been a Which? Recommended Provider of holidays for each of the last three years.

About Phoenix

Phoenix Equity Partners (“Phoenix”) is an independent private equity fund management business. Phoenix is owned by its executive team. Phoenix’s investment focus in on mid-market UK private businesses valued at up to £200m.