UK mid-market private equity investor Livingbridge has made a full exit from its investment in Direct Ferries. Livingbrdge first invested in the online ferry ticketing business in 2016 via its 2012 vintage Livingbridge 5 fund.
UK mid-market private equity investor Livingbridge has made a full exit from its investment in Direct Ferries. Livingbrdge first invested in the online ferry ticketing business in 2016 via its 2012 vintage Livingbridge 5 fund.
The deal substantially brings Livingbridge 5 to a successful close.
Direct Ferries services over 250 ferry operators across 4,000 routes and in 2022 generated 1.4 million customer bookings and revenue of £270 million.
Livingbridge was advised by Ed Arkus and Krishna Patel of Harris Williams and Mark Beardmore and Robert Worsfold of Eversheds Sutherland. Due diligence was undertaken by LEK, Deloitte and Intechnica. The management team were advised by Mick McDonagh of Liberty and Tim Hewens of Osborne Clarke.
