Soho Square Capital LLP (“Soho Square”), an investment firm focused on financing established and growing UK and European SMEs, is pleased to announce a growth investment in Newmarket Holidays, a UK-based escorted tour operator offering international group holidays to the affluent over 50s traveller market.

Newmarket Holidays was founded by Jeremy Griffin and Toni Frei in 1983, and Simon Hibbs joined as Managing Director in 1984, and the company has grown to become one of the UK's largest independently owned specialist escorted tour operators, with headquarters in Surrey, UK.

Newmarket Holidays offers a wide range of group escorted tours, events and cruises. Most of the group’s revenues are now generated via long-haul tours, which has been the fastest growing segment since 2019.

Having joined the business in 2019 with over 25 years of travel industry experience, CEO Niel Alobaidi has driven significant revenue growth and margin expansion and will continue to lead the business. The Newmarket Holidays team have built a clear and deliverable business plan focused on organic growth, notably an expansion of the number of destination markets replicating the success achieved in established markets.

As part of the investment, Geoff Parkin and Ailsa Pollard will be joining the board of Newmarket as Chair and NED respectively. Geoff brings a wealth of travel and consumer sector experience from his prior career as a Senior Partner at L.E.K Consulting. Ailsa joins following an impressive career within the travel sector, including most recently as CEO of Dnata UK & Europe and she currently sits on the board of ABTA. David Steel from Soho Square will also join the board of Newmarket Holidays.

Niel Alobaidi, CEO of Newmarket Holidays, said:

“We were attracted by Soho Square’s flexible approach to structuring investments, providing us with capital and expertise, while enabling us to stay in control of the business that we have put so much work into over the years. Myself, my leadership team and our shareholders are all excited to get to work with our new partners to accelerate our growth plans and continue Newmarket Holidays’ positive trajectory.”

David Steel, Director at Soho Square, commented:

“With rapid growth, expanding margins and a very loyal customer base, Newmarket Holidays is going from strength to strength, and we are excited to be joining them on this journey. Supported by a strong and experienced management team, Niel has driven improvements in product, technology, branding and processes. This has been reflected in the impressive level of customers booking directly with Newmarket both via its new website and from within its loyal customer base. With our support and fresh perspective, we’re confident that we can help Newmarket Holidays to realise new opportunities and deliver considerable growth.”

Soho Square’s deal team was led by David Steel, supported by Mark Bourke. Soho Square was advised by Clearwater Corporate Finance (Christopher Jones), legal advice by Hogan Lovells (James Cross) and Grant Thornton for financial and tax due diligence (Carl Parker and Sofie Morgan). Newmarket Holidays was advised by BDO corporate finance (Harry Stoakes), MHA for FDD (Rob Dawes) and CIL for commercial diligence (Liam McGuinness).

About Soho Square Capital

Soho Square Capital is an investment firm focused on providing flexible capital solutions, typically in the form of senior or preferred capital with minority equity stakes, to established and growing UK and European SMEs. Headquartered in London, the firm is led by a highly experienced team that has been investing together for over 15 years, through many economic cycles and have the expertise and flexibility to invest up to £40 million in any given transaction, across the capital structure, from senior debt to equity. The team works closely with business owners and management teams to structure innovative, bespoke financing solutions and offer enhanced portfolio company support.

www.soho-sq.com

About Newmarket Holidays

Over the past 40 years, Newmarket Holidays has built a reputation for providing escorted tours, resort-based stays, river cruises and cruise holidays that combine exceptional value for money and the highest standards of customer care. Whether they are planning trips close to home or in far flung corners of the world, Newmarket helps its customers to get the very most out of their visit, lifting the veil on the wonders of the destination and ensuring that their time away is as enjoyable and carefree as possible.

www.newmarketholidays.co.uk

View source version on businesswire.com: https://www.businesswire.com/news/home/20241004465072/en/

If you would like to discuss future investment opportunities, please contact:
James Smallridge
+44 (0)79714 75582
jms@soho-sq.com

Media:
Kepler Communications
Charlotte Balbirnie
+44 (0)7989 528421
CBalbirnie@keplercomms.com

Caroline Villiers
+44 (0)7808 585184
CVilliers@keplercomms.com

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