Terms of the deal have not been disclosed, although it is understood to be in the region of £60 million.
Iglu.com runs three businesses – Igluski.com, Iglucruise.com and planetcruise.co.uk. The announcement said that “in the past three years the business has doubled sales from £87m to £174m through a combination of organic growth, entry into new markets and acquisition.”
The funding will allow the business to expand into “new geographies and product areas including tailor-made holidays, luxury cruises and long haul holidays .”
Growth Capital Partners, which backed Iglu.com’s secondary MBO in 2012 to the tune of £19 million, has now completely exited from the business.
As part of the transaction, LDC is bringing in Greg Wills as a non-exec director for Iglu.com. Wills founded traveljigsaw.com and sold it to Priceline Group in 2010.
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