Attraction World has been acquired by Ten Oceans Private Equity for an undisclosed sum.
The private equity firm said it had bought the experiences provider after an earlier investment in Prioticket, a strategic partner of Attraction World.
Attraction World chief executive Paul Stobbs is to move to an advisory role within the group while chief commercial officer Oliver Nicholls (picture left) will become chief executive. Justin Mahoney (right) will continue as chief operating officer, but takes on wider responsibility across the group.
Nicholls, who joined Attraction World just under two years ago, said: “We are delighted to have secured this investment by Ten Oceans. Having navigated through the Covid pandemic, the new ownership of the group will allow us to move forward with a strong vision and to allow us to focus on the development of the group.
“We have secured many new distribution partnerships over the last 18 months, some within our traditional travel agent market, but also across other markets, and the new investment will allow us to further these opportunities.
“I would also like to take the opportunity to thank Paul [Stobbs] for supporting Justin and myself with a smooth transition, and for continuing his role within the group in an advisory role.”
Mahoney added: “We are delighted to be moving onto a new chapter at Attraction World. This will have a long-lasting, positive impact for all of our current and future partners, as through this partnership Prioticket’s industry-leading technology will be unlocked for them.”
During the pandemic Attraction World and Prioticket worked together to offer a range of in-destination experiences, with API connections to companies including Walt Disney World Resort Florida, Universal Orlando Resort Florida, City Sightseeing Worldwide, Hornblower, SeaWorld Parks & Entertainment and The Travel Corporation.
Ten Oceans Private Equity said the acquisition would allow Attraction World to expand its distribution channels globally.
Dutch entrepreneur Lara Timmerman, founder of Ten Oceans Private Equity, said: “I see a lot of synergies across the two businesses and we will continue to review other investment opportunities across the industry where we feel there are complementary partnerships.
“The acquisition of Attraction World fits into Ten Ocean’s strategy to deliver amazing experiences across the globe from the palm of your hand. By acquiring Attraction World, we can further nurture key strategic relationships with Disney, Universal, Merlin Entertainments, Hornblower Group and City Sightseeing.”