Celestyal Cruises and its parent company, the Louis Group, forged a definitive strategic investment agreement with Searchlight Capital Partners to create Celestyal Holdings, a new holding company.
Searchlight's investment in the new holding company, of which the Louis Group will be a shareholder, will enable Celestyal Cruises to "amplify its brand globally, build upon its success to-date and expand its operational footprint whilst growing and renewing its fleet,' Celestyal Cruises said.
"Prior to the pandemic, Celestyal was on a fast growth trajectory, and Searchlight's infusion of capital will propel our growth strategy and accelerate our fleet renewal plan," said Celestyal Cruises CEO Chris Theophilides.
"Our 2022 season is already looking solid and with this significant development, we are extremely excited about Celestyal's journey ahead."
For its part, Searchlight believes Celestyal Cruises has a promising future.
"The cruise industry has shown a tremendous amount of resilience coming out of the pandemic, and as Greece's major homeporting cruise line, Celestyal has played a pivotal role in the country's strong tourism recovery," said Searchlight Partner Ralf Ackermann.
"We believe this partnership will help to reinforce the company's position as the leading cruise operator in the Eastern Mediterranean region and enhance its uniquely authentic experiences and operating footprint."
Added Louis Group Executive Chairman Costakis Loizou, "Celestyal Cruises has always been a strong and robust regional expert, and a key component of our tourism portfolio. With the added financial resources of Searchlight, Celestyal is destined for an even brighter future, and we look forward to being part of realizing Celestyal's full potential."
A private equity firm, Searchlight has offices in New York, London and Toronto.
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