January 11, 2018 | Deals

GCA Altium advises Waterland on the sale of A-ROSA to Duke Street

GCA Altium acted as exclusive financial advisor to Waterland Private Equity on the sale of their portfolio company A-ROSA, the market leader for premium cruises on European rivers, to Duke Street. The British company based in London along with A-ROSA’s management are acquiring all the shares in A-ROSA.

A-ROSA is the market leader in the premium segment for river cruises on Europe’s Danube, Rhine/Main/Moselle, Rhône/Saône and Seine rivers. The company based in Rostock, Germany, has around 600 employees and a contemporary fleet comprising eleven premium ships that are all independently operated. More than 85,000 passengers travelled on board the A-ROSA cruise ships in 2017.

Waterland acquired a majority share in A-ROSA in 2009, and has since contributed significantly to the company’s growth and to its becoming the most successful river cruise operator in the German source market. Since 2009, A-ROSA has expanded its fleet from six to eleven cruise ships and added the Rhine and the river Seine to its areas of operation.

Duke Street will support the further growth of A-ROSA and strengthen its leading market position. Sascha Pfeiffer and Raiko Stelten of GCA Altium commented: “We are pleased to see our long-standing client Waterland Private Equity successfully exiting their investment in A-ROSA. At the same time we are convinced that Duke Street will be a great partner to foster the future growth of the A-ROSA river cruise group.”

The transaction is subject to approval by the anti-trust authorities. Terms of the transaction were not disclosed.

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