Funds managed by Searchlight Capital Partners, the US based private equity investor, has agreed to take an undisclosed stake in Celestial Cruises, the Greek cruise line that is part of the Cyprus based Louis PLC group.

“As part of the partnership, Searchlight will make an investment into a new holding company, Celestyal Holdings. This will enable Celestyal Cruises to amplify its brand globally, build upon its success to-date and expand its operational footprint whilst growing and renewing its fleet,” Celestial said in a statement. 

Celestyal Cruises would continue to operate its fleet of two ships from its offices in Piraeus, Greece with its current global management team leading the business and the Louis Group will continue as a shareholder in the new holding company, it said.

“Prior to the pandemic, Celestyal was on a fast growth trajectory, and Searchlight’s infusion of capital will propel our growth strategy and accelerate our fleet renewal plan,” said Celestyal Cruises’ CEO, Chris Theophilides. 

“We are extremely pleased to have Searchlight as a strategic partner and are eager to join forces with them to build on our positive momentum, amplify our global brand awareness and elevate our award-winning guest experience, taking it to new heights. Our 2022 season is already looking solid and with this significant development, we are extremely excited about Celestyal’s journey ahead.”