H.I.G. Bayside Capital Europe Completes Refinancing of Riviera Travel

Whats Happening:

H.I.G. Bayside Capital Europe, in partnership with Triton Debt Opportunities, has provided a new five-year, £125m unitranche term loan to Riviera Travel. This refinancing supports Riviera's management team, led by CEO Phil Hullah, in their growth plans following the company's acquisition by Silverfleet Capital. Riviera Travel, a UK-based global travel brand specializing in guided tours, cruises, and solo holidays for the over-60s market, offers approximately 170 unique itineraries across 45 countries.

Key Moves:

• H.I.G. Bayside Capital Europe provides £125m unitranche term loan to Riviera Travel

• New five-year facility refinances existing term loan and supports growth plans

• Partnership aims to enhance customer experience and improve itineraries

By The Numbers:

• H.I.G. Capital manages $68 billion in capital

• Riviera Travel offers approximately 170 unique itineraries

• Riviera operates in over 45 countries globally

Key Quotes:

• "We are delighted to partner with Bayside and Triton for this exciting next phase of growth," - David Whatley, CFO at Riviera

• "Riviera has been an impressive success story resulting in high, sustainable growth in an attractive market segment," - Mathilde Malezieux, Managing Director at Bayside

Bottom Line:

The refinancing of Riviera Travel by H.I.G. Bayside Capital Europe demonstrates confidence in the travel sector's recovery and growth potential. This deal provides Riviera with a flexible capital structure to support its expansion plans, enhance customer experiences, and develop new itineraries. It also highlights H.I.G.'s strategy of providing tailored financing solutions to mid-sized companies in Europe.

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