Waterproof Expeditions is a tour operator specialized in travel to Arctic destinations, including the North Pole, Northern Norway, Svalbard, and Greenland. The Company organizes expeditions aboard smaller luxury cruise ships with a capacity of approximately 12 to 16 passengers. Waterproof Expeditions distinguishes itself by allowing travelers to enjoy both the spectacular landscapes and the unique opportunities to observe wildlife. For example, during the orca season, travelers have the opportunity to swim with orcas in Northern Norway.
The challenge
After the DGA had realized beautiful growth with her company, it was time to slowly work towards her retirement, which initiated a sales process. For a tour operator in this niche segment, careful consideration must be given to which parties are approached and how the unique identity is best preserved after the transaction. In addition, it was important that Maasdael looked beyond purely the financial picture.
Beyond the deal
Maasdael assisted Waterproof Expeditions with the preparation of an information memorandum, after which potential buyers were identified and approached. From the moment of exclusivity with one party, Maasdael completely unburdened the shareholders during the due diligence process.
The director-major shareholder (DGA) has always run the company out of pure passion for organizing trips. This made it all the more important to carefully look for parties wishing to continue this passion, while maintaining the unique identity of the company.
The process ultimately resulted in a successful sale to the listed Unlimited Travel Group.
The value of sector knowledge
Travelers are increasingly looking for adventurous trips and unique experiences, instead of traditional travel. This shift in consumer demand is prompting market players to adapt their portfolio accordingly, often through targeted acquisitions. The acquisition of Waterproof Expeditions fits in seamlessly: with this, Unlimited Travel Group adds a travel organization that responds precisely to this growing need for adventure and experience.
