Press Release: January 04, 2010
The ski, cruise and family holiday company, Iglu.com, is steering a fresh course with a £4.3 million investment from Matrix Private Equity Partners.
'We're heading for exciting and more profitable waters', said Iglu's founder and chief executive, Richard Downs, who remains at the company's helm with sales and marketing director, Simone Clark.
Matrix has bought a 35% stake in Iglu, which is the UK's leading internet ski holiday retailer and the fastest growing in the cruise sector with its www.igluski.com and www.iglucruise.com websites.
'I'm delighted Matrix want to be part of the next chapter of our growth story', said Downs, who had the idea for Iglu during an MBA course at London Business School in 1998.
Matrix partner Bob Henry said: 'We are investing in Iglu.com because it is solid and cash generative, with a strong management team that have a successful track record of building a profitable, niche business.
The refinancing has provided an exit for Iglu's original investors, Sussex Place Investment Management, Barclays Ventures and Geocapital Partners.
Queries: Iglu PR Peter Miller www.iglu.com