Riviera Travel Secures £125 Million Refinancing Backed by H.I.G. Bayside and Triton
Deal News | Apr 07, 2025 | Proskauer Rose (UK) LLP
Proskauer has advised funds managed by H.I.G. Bayside Capital Europe and Triton on a significant £125 million unitranche facility for Riviera Travel. This new funding arrangement, spanning five years, is intended to refinance the travel company's existing debt. Riviera Travel, a well-regarded travel brand headquartered in the UK, caters primarily to the over 60s market with its portfolio of escorted tours, cruises, and solo holidays. Silverfleet Capital backs the company, which has established a solid reputation for delivering quality services. The legal team from Proskauer was led by partner Alex Griffith and comprised associates specializing in private credit transactions. Proskauer has positioned itself as a top choice for complex legal matters, offering expertise across various sectors including private equity and credit restructuring, as evident in this deal.
Sectors
- Travel & Tourism
- Financial Services
- Legal Services
Geography
- United Kingdom – Riviera Travel is headquartered in the UK, and the unitranche facility is likely structured with operations centered in the UK.
- Europe – Proskauer and the funds involved operate across European financial centers.
Industry
- Travel & Tourism – Riviera Travel operates within this industry, offering tours, cruises, and holidays.
- Financial Services – This sector is relevant as it involves financing and refinancing facilitated by H.I.G. Bayside Capital Europe, Triton, and advised by Proskauer.
- Legal Services – Proskauer Rose's involvement as a legal advisor highlights the importance of legal services in structuring the financial deal.
Financials
- £125 million – The amount of the unitranche facility provided to Riviera Travel for refinancing purposes.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Proskauer Rose (UK) LLP | Legal Advisor | Company | A leading international law firm providing legal advice to H.I.G. Bayside and Triton on the unitranche facility. |
| H.I.G. Bayside Capital Europe | Financier | Company | Provides financial backing as part of the £125 million facility for Riviera Travel. |
| Triton | Financier | Company | Collaborates with H.I.G. Bayside to provide the unitranche facility to Riviera Travel. |
| Riviera Travel | Target Company | Company | A UK-based global travel brand specializing in tours, cruises, and holidays for the over 60s market. |
| Silverfleet Capital | Sponsor/Backer | Company | Backs Riviera Travel as part of its investment portfolio. |
| Alex Griffith | Lead Partner | Person | Lead partner from Proskauer overseeing the legal aspects of the financing deal. |
| Rafael Serrano | Associate | Person | Associate at Proskauer involved in the deal, specialized in Private Credit. |
| Aaron H.T. Wong | Associate | Person | Associate at Proskauer involved in the deal, specialized in Private Credit. |
| Zoe Zimmermann | Associate | Person | Associate at Proskauer involved in the deal, specialized in Private Credit. |