Searchlight Capital Partners Acquires Majority Stake in Celestyal Cruises Limited

December 2, 2021

Willkie represented Searchlight Capital Partners in its agreement to acquire a majority stake in Celestyal Cruises.

On November 29, global private investment firm Searchlight Capital Partners announced it had entered into a definitive agreement to acquire a controlling stake in Mediterranean cruise company, Celestyal Cruises Limited. As part of the transaction, Searchlight will invest in a new holding company, Celestyal Holdings, to propel Celestyal's growth strategy and accelerate its fleet renewal plan.

Celestyal Cruises, based in Cyprus, is a leading cruise operator in the Greek Islands and East Mediterranean. It is a subsidiary of Louis PLC, founded in 1935 as the first travel agency in Cyprus.

Searchlight is a global private investment firm with over $9 billion in assets under management and offices in New York, London and Toronto. Searchlight seeks to invest in businesses where its long-term capital and strategic support accelerate value creation for all stakeholders.

The Willkie team was led by partner Gavin Gordon and included partners Rahul Saha, Ashley Young, Jane Scobie and Rita Mitchell and associates Amelia Doughty, Komal Raina, Andrew Turnbull, Nicola White, Ethan Douglas, Nikolai Hoffmann and Perrine Meyer.