Buy-out at Iglu.com

Travel agent Iglu.com, which specialises in ski and cruise holidays, has undergone a management buy-out (MBO) for £4.3 million.

Matrix Private Equity backed the MBO and recapitalisation of the business, providing both equity and debt for the transaction. The deal is its second new investment in four days following a buy-out at artificial flower supplier CB Imports.

Mark Wignall, chief executive of Matrix, comments, ‘Amidst a dearth of M&A activity the small buyout market wheel keeps on turning. [We are] finding that there is huge opportunity within the small buyout space.’

Wimbledon-based Iglu.com employs some 100 people. Established in 1998 by MD Richard Downs to sell ski holidays, the company branched out into cruises in 2005 and secured total sales of £45 million this year, up from £38 million in 2008.

Nick Britton

Lexus Ernser

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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