Online travel agent Iglu expands as investors line up to get their share
IGLU, an online travel agent that specialises in cruise and ski holidays, said it has received an undisclosed investment from LDC.
Iglu specialises in ski and cruise holidays
LDC is the private equity arm of Lloyds Banking Group.
The Wimbledon-based travel firm reported that the cash will allow it to push into new areas, such as tailormade breaks, luxury cruises and long-haul holidays.
According to the group, which employs 240 staff, it has doubled sales over the past three years to £174million from £87million through a combination of organic growth, entry into new markets and acquisition.
This will prove invaluable for our future development
Richard Downs, chief executive officer of Iglu, said: “We had a number of potential investors who recognised our online expertise and great customer service, but we chose LDC because of their long-term investment approach and experience in the leisure sector.
“This will prove invaluable for our future development.”