Celestyal Cruises' majority stake taken by Searchlight Capital Partners

   December 1, 2021 ,   Cruise Industry

Searchlight Capital Partners (USA-based private equity investor) has taken an undisclosed stake in the Greek company Celestyal Cruises (part of Louis PLC Group/Cyprus).

Celestyal's parent company (Louis Group) revealed the infusion of cash would allow the cruise line, which sails the Greek Islands and the Eastern Mediterranean, to rebound from the COVID crisis.

As part of the new partnership, Searchlight will invest in a new holding company, Celestyal Holdings, a statement issued on Monday morning, November 29, said.

Celestyal will continue to operate a two-ship fleet (Celestyal Olympia, Celestyal Crystal) from its offices in Piraeus Greece with the current global management team leading the business.

Louis Group continues as a shareholder in the newly established holding company.

Celestyal Olympia cruise ship

Chris Theophilides (Celestyal’s CEO) said that prior to the COVID crisis, the company had been "on a fast growth trajectory, and Searchlight’s infusion of capital" would propel their growth strategy and accelerate their fleet renewal plan.

Your personal data will be processed and information from your device (cookies, unique identifiers, and other device data) may be stored by, accessed by and shared with third party vendors, or used specifically by this site or app. Some vendors may process your personal data on the basis of legitimate interest, which you can object to by managing your options below. Look for a link at the bottom of this page or in our privacy policy where you can withdraw consent.