A US-based private equity firm is to acquire an undisclosed “significant stake” in AmaWaterways.
The shareholding in the river cruise line is being acquired by L Catterton from a consortium of investors led by global investment firm Certares.
L Catterton pledged to support the company’s continued growth.
The firm joins founders Rudi Schreiner, Kristin Karst and the Murphy family, “all of whom remain committed to supporting the company’s long-term growth and innovation in the river cruising industry and will continue to have meaningful ownership in the company”.
Schreiner said: “This is an exciting new chapter for AmaWaterways.
“L Catterton brings unique insight into today’s customers, as well as exciting ideas on how we can work together to capitalise on a number of growth opportunities across our business.
“They share our passion for innovation and an unwavering commitment to creating unparalleled guest experiences. We look forward to working with them to continuously expand and enhance our river cruise portfolio for our customers.”
L Catterton flagship fund co-managing partner Marc Magliacano said: “As consumers’ desire for unforgettable luxury travel experiences continues to grow, we understand the importance of creating highly curated and memorable opportunities for guests to see the world,” said
“We look forward to leveraging our global network and deep expertise across travel to identify new growth opportunities and thoughtful expansion initiatives, while empowering the innovative and pioneering spirit that has driven AmaWaterways’ success over the last two decades.”
Fellow partner Jennifer Reid added: “The company continues to delight both guests and their cherished travel advisor partners, driven by its commitment to delivering first-of-its-kind ships, high-quality dining, wellness offerings, and exciting excursions to create an unmatched immersive experience.
“Rudi and Kristin are true visionaries. Along with their passionate and committed team, they continue to set the industry standard for personalised customer service and innovation. We couldn’t be more excited about this partnership; together we will continue to provide a distinct, luxury travel experience in many of the most sought-after destinations across the world.”
Colin Farmer, senior managing director and head of the management committee of Certares, said: “We are extremely proud to have had a role in AmaWaterways’ growth over the last many years, including the significant additions to the company’s fleet, entry into new cruise destination markets, enhanced relationships with travel advisor partners, and expanding upon the innovative and extraordinary experiences AmaWaterways provides its guests daily.
“We wish our partners and everyone at the company nothing but continued success in this next chapter.”