ISIS Equity Partners has sold portfolio company Enigma Travel Group to Hotelplan UK, generating an IRR of 25 per cent.

ISIS Equity Partners has sold portfolio company Enigma Travel Group to Hotelplan UK, generating an internal rate of return (IRR) of 25 per cent.

The private equity firm invested in Enigma four years ago and achieved a multiple of 2.4 times its original investment through the sale.

Enigma Travel Group’s managing director Andy Perrin will become group CEO of Hotelplan UK, while its chairman and founder Peter Dyer will become vice chairman of Hotelplan UK.

Hans Lerch, vice chairman and CEO of the acquirer’s Swiss parent, Hotelplan Group, and chairman of Hotelplan UK, says, ‘This deal positions the enlarged Hotelplan UK group for significant growth across all key sectors, by reinforcing and building on the group’s long-standing position in the ski market and in specialist travel generally.’

Comprising Esprit Holidays and Ski Total, Enigma Travel Group specialises in ski and chalet holidays. Hotelplan UK is the parent company of tour operators Inghams and Inntravel, and also operates in the ski and winter holiday sector.