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.

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.