Simpson Travel secures additional funding to grow Med programme
Simpson Travel will use new funding from financial services firm Shawbrook to grow its Mediterranean programme and add new destinations.
The retail banking company has joined private equity house Risk Capital Partners – who in late March secured an undisclosed stake in Simpson – as its debt partner for the deal.
The villa specialist said on Tuesday (21 May) the funding would be used to “expand capacity” across its existing Mediterranean programme “while unlocking new destinations for growth”.
“This new funding will allow us to accelerate our mission and to cater to a growing customer base,” said Simpson Travel managing director Ed Pyke.
“The team at Shawbrook understood our objectives and structured a flexible solution that supports both our sponsors, Risk Capital, and ourselves in the long-term.”
Shawbrook was brought in on the project after being introduced to Risk Capital Partners by consulting firm BDO Debt Advisory, who has collaborated several times with Simpson Travel founder Graham Simpson.
As part of the agreement, the company has transitioned from a family-owned business to an investor-owned proposition.
The deal – which took two years to complete – saw Pyke promoted to the role of managing director, with former Hotelplan chief Paul Carter coming in to replace Simpson as chair.
He has remained involved with the business in an advisory capacity, while his children Mathew, Daniel and Hannah have retained their roles as product director, commercial director and head of trade sales.
“Simpson Travel is an exciting business and an industry leader in their field of luxury travel, we look forward to watching them further grow the enterprise with the assistance of Risk Capital Partners and this new line of funding,” said Shawbrook financial sponsors director Ciaran Flanagan.
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