Escorted tours specialist Newmarket Holidays has announced new investment.
It has received an undisclosed amount from Soho Square Capital LLP as part of a deal that will see Geoff Parkin and Ailsa Pollard join the operator’s board.
Current owners Simon Hibbs, Jeremy Griffin, Toni Frei and Niel Alobaidi, who also serves as Chief Executive, will remain as majority shareholders.
Parkin and Pollard join as Chair and Non-Executive Director 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 was most recently 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.
Newmarket Holidays was founded by Jeremy Griffin and Toni Frei in 1983, and Simon Hibbs joined as Managing Director in 1984.
Niel Alobaidi, CEO, 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.”
“We are all excited to get to work with our new partners to accelerate our growth plans and continue Newmarket Holidays’ positive trajectory.”
