Ferry ticket booking site Direct Ferries is planning “ambitious” growth after securing new investment from new financing partner ICG.
Livingbridge, the founding Davies family and management have also reinvested into the business.
Direct Ferries said the refinancing deal will support its “continued international growth strategy” across its primary consumer business and “fast-growing” B2B and freight channels.
It said it is the world’s largest ferry ticketing business, selling more than three million tickets last year on 4,000 routes across the globe.
The company aggregates ferry routes, times and prices from more than 250 ferry operators to enable customers to find the right sailing.
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Niall Walsh (pictured), chief executive at Direct Ferries, said: “I’m delighted to welcome ICG as a new partner on the Direct Ferries journey.
“The business has grown rapidly over the past three years, and we look forward to working with, and leveraging the experience of, a partner that supports our ambitious growth strategy and the management team, to take the business to the next level.”
Mark Piasecki, managing director at asset management firm ICG, said: “We are impressed by the growth journey of Direct Ferries in recent years and are delighted to be its new partner.
“We see further growth in its core international consumer markets but also in its fast-growing B2B and freight channels underpinned by its strong technology and data science capability.”
Direct Ferries was advised by Harris Williams (corporate finance adviser) and Eversheds Sutherland (legal counsel).
ICG was advised by Clearwater International (M&A and debt), OC&C (commercial), KPMG (financial & tax) and Proskauer (legal).