Waterland sells its participation in A-ROSA river cruises
Munich, 11th January 2018 – Waterland Private Equity is selling its interest in the A-ROSA river cruise group to Duke Street. The British company based in London is acquiring all the shares in the market leader for premium cruises on European rivers together with management.
“We are delighted to have found in Duke Street a new investor who will push ahead with growth of the A-ROSA river cruise group,” commented Jörg Dreisow, Managing Partner at Waterland. The independent private equity firm acquired a majority share in the leading German river cruise provider in 2009, and has since contributed significantly to the company’s growth and to its becoming the most successful river cruise operator in the German source market. “We have been able to continuously strengthen our leading position in Europe over the last few years thanks to our partnership with Waterland,” said Jörg Eichler, CEO of A-ROSA. Since 2009, the premium river cruise operator has expanded its fleet from six to eleven cruise ships and added the Rhine and the river Seine to its areas of operation.
The transaction is subject to approval by the anti-trust authorities. The parties have agreed not to disclose any financial details relating to the transaction.
A-ROSA is a market leader in the premium segment for river cruises on Europe’s Danube, Rhine/Main/Moselle, Rhône/Saône and Seine rivers. The company based in Rostock and in Chur, Switzerland has around 600 employees and a contemporary fleet comprising eleven premium ships that are all independently operated. More than 85,000 passengers travelled on board the A-ROSA cruise ships in 2017.
Waterland is an independent private equity investment firm that supports companies in realising their growth ambitions. With substantial financial resources and industry expertise, Waterland enables its portfolio companies to achieve accelerated growth both organically and through acquisitions. Waterland has offices in the Netherlands (Bussum), Belgium (Antwerp), Germany (Munich, Hamburg), Poland (Warsaw), the UK (Manchester), Denmark (Copenhagen) and Switzerland (Zurich). It currently manages investor commitments of EUR 6 billion.
Since it was established in 1999, Waterland has consistently generated an above-average performance with its investments. Waterland was named the number one global private equity firm in the recent HEC/Dow Jones Private Equity Performance Ranking compiled by Prof. Gottschalg from the HEC Paris Business School in autumn 2016, and has regularly been among the top three consistent performing buyout fund managers worldwide in the Preqin Consistent Performers in Global Private Equity & Venture Capital Report in recent years.
About Duke Street
Duke Street is a leading operationally focused European mid-market buyout group. Founded in 1988, it invests across four sectors: healthcare, services, consumer and industrials. Duke Street has a proven model of value creation by successfully transforming businesses through implementing operational change and buy-and-build, having made approximately 60 bolt-on acquisitions for its portfolio companies. The firm is supported by its strategic partner and shareholder, Tikehau Capital, an asset management and investment group investing across private debt, real-estate, private equity and liquid strategies, with €12.6bn of assets under management and €2.3bn of shareholders’ equity.
The A-ROSA buyout increases Duke Street’s current portfolio of German investments to two. In 2016 the group led a consortium to acquire Medi-Globe Corporation (Medi-Globe), a medical devices business focused on minimally invasive surgery in gastroenterology and urology.
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