Online travel group Secret Escapes seeks getaway with new owner
The group which owns Travelist is working with bankers at Arma Partners on a sale, nearly 15 years after it was founded, Paste BN learns.
Monday 20 January 2025 12:04, UK
Secret Escapes, the online travel platform, has hired bankers to explore a sale nearly 15 years after its launch.
Paste BN has learnt that Secret Escapes has appointed the investment bank Arma Partners to oversee an auction of the company.
Sources close to a number of potential bidders said on Monday that the process was expected to lead to new ownership in the coming months.
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Member-only Secret Escapes has been backed by a string of prominent investors, including the Singaporean sovereign wealth fund Temasek and London-listed technology investor Chrysalis.
In total, it has raised hundreds of millions of pounds in debt and equity since it was founded in 2011.
It secured roughly £40m during the COVID-19 crisis to shore up its balance sheet, having previously secured more than £100m in backing since its launch.
In its last financial year, it completed a £32m equity raise with the backing of existing shareholders and lenders, and debt refinancing extending term debt to July 2028
The company owns travel brands operating across Europe including Secret Escapes, Travelist, and Slevomat, which trades in eastern Europe.
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It was unclear whether any potential bidders were in serious talks yet about a deal.
Last year's accounts filed at Companies House showed that it saw gross bookings increase by 19% to £523.8m, with its cash position, operating profit and revenue all significantly stronger than a year earlier.
A spokesperson for Secret Escapes declined to comment.