Experiences provider Attraction World has been bought by the private equity group that recently acquired its strategic partner Prioticket.
Ten Oceans Private Equity, founded and controlled by Dutch entrepreneur Lara Timmerman, has paid an undisclosed amount.
The acquisition will allow Attraction World to globalise its distribution channels and will see CEO Paul Stobbs move into an advisory role within the group.
Ms Timmerman said: “I am delighted to be furthering my investment within the travel industry, as my involvement with Prioticket has shown me the amazing future and digital revolution this market has to offer.
“I see a lot of synergies across the two businesses and we will continue to review other investment opportunities across the industry where we feel there are complimentary partnerships”.
“The acquisition of Attraction World fits into Ten Oceans’ strategy to deliver amazing experiences across the globe from the palm of your hand. By acquiring Attraction World, we can further nurture key strategic relationships with Disney, Universal, Merlin Entertainments, Hornblower Group and City Sightseeing.”
Current Chief Commercial Officer Oliver Nicholl (pictured above, left) will move into the role of CEO alongside Justin Mahoney (pictured above, right), who will continue in the role of COO but take a wider responsibility across the group.
Mr Mahoney said: “We are delighted to be moving onto a new chapter at Attraction World.
“Having worked with the team at Prioticket over the past 18 months and discovering the synergies between the two companies, we were delighted when Lara and her team expressed interest in investing in Attraction World.
“This will have a long-lasting, positive impact for all of our current and future partners, as through this partnership Prioticket’s industry-leading technology will be unlocked for them.”
Mr Nicholls, who joined Attraction World just under two years ago, said “We are delighted to have secured this investment by Ten Oceans.
“Having navigated through the COVID pandemic, the new ownership of the group will allow us to move forward with a strong vision and to allow us to focus on the development of the group.
“We have secured many new distribution partnerships over the last 18 months, some within our traditional travel agent market, but also across other markets, and the new investment will allow us to further these opportunities.
“I would also like to take the opportunity to thank Paul Stobbs for supporting Justin and myself with a smooth transition, and for continuing his role within the group in an advisory role.”