- Livingbridge first invested in Direct Ferries in 2016
- Direct Ferries generated revenue of £270m in 2022
- Livingbridge is an independent private equity firm based in London
Livingbridge has sold its investment in Direct Ferries, a full-service online travel agent (OTA) and a ferry ticketing business.
Direct Ferries has 90 employees across its UK hubs of London, Brighton and Ipswich. The company, in 2022, generated revenue of £270 million (€315.19 million;$339.61 million).
The transaction involves a full exit and realisation from Livingbridge 5, together with a follow-on investment alongside new investor ICG, the founding family, and management, according to a release.
Livingbridge first invested in Direct Ferries in 2016.
“This has been a very rewarding journey for all stakeholders, covering rapid growth, end to end upgrading of every facet of the business, navigating the COVID-19 pandemic and a strong post pandemic recovery, delivering value for operators and customers,” said Adam Holloway, partner, Livingbridge.
Livingbridge has overseen a major re-platforming of the technology, development of a new customer services model and the ongoing sophistication of digital marketing and greater use of data analytics, the release said.
Livingbridge is an independent private equity firm based in London. It has offices in the UK, US, and Australia.
Livingbridge was advised by Ed Arkus and Krishna Patel of Harris Williams and Mark Beardmore and Robert Worsfold of Eversheds Sutherland.