Lindblad Expeditions: $ 85 million in capital raised
Lindblad Expeditions raised 85 million dollars from prominent investors to better their financial flexibility and support their growth in the long term. In this way, their cash reserves are increased, which could be useful in the case of a prolonged stop to operations because of the Covid-19 pandemic.
Among the investors there are famous names like MSD Partners, LP, Durable Capital LP, Headlands Capital, Deep Field Asset Management LLC and Declaration Capital for a total of 85 million dollars in preferred shares purchased.
Lindblad Expedition began to shore up its stability from the very beginning of the pandemic, with a series of operations that guaranteed autonomy and strength at the moment of resumption of activities. “I am happy to announce that we have lined up 85 million dollars of additional capital from this excellent and diversified group of expert long-term investors,” said Sven-Olof Lindblad, President and CEO of the company. “We know that our clients are anxious to travel again and this investment gives us further financial flexibility while we prepare to return to exploring the most extraordinary destinations in the world.”
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National Geographic Endurance at sea. Feb 13, 2020.
According to Mark Ein, president of the board of directors of Lindblad Expeditions, the operation exceeded even their own expectations and guarantees the company not only a long viability in the case of a lengthened halt of cruises, but also strong growth and competitiveness at the time of resumption.
Facing a situation not always easy and happy, it is very reassuring to receive news about one of the most competitive and specialized expedition cruise companies, with such a fantastic and young fleet and completely unique itineraries.
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