Intrepid Travel secures funding from French private equity firm Genairgy.
A new strategic partnership with France-based investment company Genairgy will help Intrepid Travel to “accelerate its ambitious growth strategy,” the companies have announced this morning.
The agreement will see Intrepid co-founders Darrell Wade and Geoff Manchester retain majority ownership of the company and stay on the Board, alongside CEO James Thornton and non-executive directors Liz Savage and Sarah Morgan. Genairgy owner Julien Leclercq will also join the Intrepid Travel board.
“As the travel industry starts to recover from the pandemic, we remain focused on building the best travel company for the world,” Thornton said.
“The fact that Genairgy and Intrepid have come together at this time demonstrates real confidence in the future of sustainable, experience-rich travel. It’s clear that what was once considered a niche will become a mainstay model post-COVID,” he added.
Leclerq, whose family is a major shareholder of global sports retailing giant Decathlon, said Genairgy’s strategy and values were closely aligned with Intrepid, with the investor’s portfolio also including the Altai DMC network and an adventure travel division with several investments in the area.
“While Intrepid has maintained an impressive history of growth, it was their genuine commitment to sustainable travel and B Corp credentials that truly set them apart,” he said.
More details in today’s Travel Daily.