Soho Square investing in Newmarket Holidays.....

Soho Square Capital has confirmed a big growth investment in Newmarket Holidays, which is a UK-based escorted tour operator offering international group holidays to the over 50s traveller market.

The holiday company was founded by Jeremy Griffin and Toni Frei in 1983, with Simon Hibbs joining as Managing Director in 1984. Since then, the company has grown to become one of the UK's largest independently owned specialist escorted tour operators based in Surrey. The firm offers a wide range of group escorted tours, events and cruises. Most of the group’s revenues are now generated via long-haul tours, which has been the fastest-growing segment since 2019.  

As part of the investment, Geoff Parkin and Ailsa Pollard will be joining the board of Newmarket as Chair and NED respectively. Geoff brings a wealth of travel and consumer sector experience from his prior career as a Senior Partner at L.E.K Consulting. Ailsa joins following an impressive career within the travel sector, including most recently as CEO of Dnata UK & Europe and she currently sits on the board of ABTA. David Steel from Soho Square will also join the board of Newmarket Holidays.

Niel Alobaidi, CEO of Newmarket Holidays, said:  “We were attracted by Soho Square’s flexible approach to structuring investments, providing us with capital and expertise, while enabling us to stay in control of the business that we have put so much work into over the years. Myself, my leadership team and our shareholders are all excited to get to work with our new partners to accelerate our growth plans and continue Newmarket Holidays’ positive trajectory.”

Soho Square, is an investment firm focused on financing established and growing UK and European SMEs. David Steel, Director at Soho Square, commented:  “With rapid growth, expanding margins and a very loyal customer base, Newmarket Holidays is going from strength to strength, and we are excited to be joining them on this journey. Supported by a strong and experienced management team, Niel has driven improvements in product, technology, branding and processes. This has been reflected in the impressive level of customers booking directly with Newmarket both via its new website and from within its loyal customer base. With our support and fresh perspective, we’re confident that we can help Newmarket Holidays to realise new opportunities and deliver considerable growth.”

Soho Square’s deal team was led by David Steel, supported by Mark Bourke. Soho Square was advised by Clearwater Corporate Finance (Christopher Jones), legal advice by Hogan Lovells (James Cross) and Grant Thornton for financial and tax due diligence (Carl Parker and Sofie Morgan). Newmarket Holidays was advised by BDO corporate finance (Harry Stoakes), MHA for FDD (Rob Dawes) and CIL for commercial diligence (Liam McGuinness).

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