The house owners of Riviera Journey, certainly one of Britain’s largest suppliers of escorted international excursions for the over-55s, have employed bankers to arrange a sale of the corporate.
Sky Information understands that Silverfleet Capital, which has owned Riviera since 2017, has employed Baird, the funding financial institution, to supervise an public sale later this yr.
Riviera runs river cruises in addition to holidays to locations in Europe, India and South Africa.
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Based in 1984 by Michael Wright, it was initially backed by non-public fairness agency Phoenix Fairness Companions in 2014.
The worth of any potential deal was unclear on Friday, though elements of the journey trade have recovered strongly within the aftermath of the Covid pandemic.
The upcoming public sale of Riviera comes as Saga, the London-listed insurance coverage and journey group, explores choices for its personal cruise enterprise.
Saga confirmed in January that it was analyzing methods to launch capital from the division, which contains the Spirit of Journey ships.
Riviera is certainly one of solely 4 remaining property within the Silverfleet portfolio, having as soon as been certainly one of London’s most outstanding mid-market non-public fairness buyers.
It additionally owns Sigma, an aerospace elements provider.
A spokesman for Silverfleet declined to remark.
