A rival to Saga Holidays and Shearings in the burgeoning over-50s travel sector has secured a “significant” but unspecified capital injection.
Independent private equity firm Kings Park Capital agreed to take an equity stake in Just Go! Holidays to help expand the business.
The Cheltenham- based operator employs 61 people and handled 76,000 passengers last year, generating turnover of almost £20 million.
Founded in 1996, the company offers coach, air and cruise holidays, approximately 80% of which are in the UK.
Just Go! has had an official partnership with the National Trust since 2011 giving unique access to the Trust’s membership base and historic sites across the UK.
The group also offers inbound group holidays in the US through its Albion Journeys brand.
The operator aims to capitalise on its favourable positioning towards the fast-growing ‘third age’ demographic, who have become the biggest consumers of holidays in the country over the last decade, and is well-positioned to benefit from the favourable staycation trend, according to Kings Park.
Chief executive, Luis Arteaga, said: “I am delighted to have secured Kings Park Capital as my partner and am excited for the new chapter in Just Go! Holidays’ history.
“Our vision is to continue expanding the business’s holiday offering through new destinations and further product innovation, whilst building upon our collection of valued strategic partnerships both in the UK and in the US. I look forward to working together with KPC to accelerate the growth of the business.”
Artjom Dashko, investor director at KPC, a specialist in investing in the European leisure sector, said: “We are excited to have made a second travel investment in our latest fund, and believe that in Luis and his management team we have found an excellent and capable partner to deliver on the vision of making Just Go! Holidays a leading group holidays player in the wider £40 billion UK leisure travel market, both organically, but also by making selective bolt-on acquisitions in this fragmented area.”
The Royal Bank of Scotland corporate transactions team provided a senior debt package in support of the transaction.