Key’s cool investment in technology business, theICEway
Key Capital Partners (“Key”) has invested over £7m investment in theICEway, a leading specialised cruise technology company, for a significant minority stake.
Key Capital Partners (“Key”) has invested over £7m investment in theICEway, a leading specialised cruise technology company, for a significant minority stake.
An end-to-end IT consultancy and managed service firm, theICEway, will use the investment to enhance its technological offering and drive expansion across key markets in the global cruise and travel sectors.
CEO and Co-Founder of theICEway, Ian Richardson, has led the business from inception and will continue at the helm to work with Key during its next phase of growth. Ian will continue to be supported by the senior leadership team consisting of Owen Redmond, Bertie Travis, Tracy Fletcher. Key has introduced Richard Hurd-Wood who becomes Chair.
We are thrilled to partner with Key Capital Partners, whose expertise in supporting growth businesses aligns perfectly with our vision for the future. This investment is a major step forward in our journey to becoming the leading global technology provider for the cruise and travel industries. With Key’s backing, we are confident in our ability to continue delivering exceptional value to our clients and expanding our capabilities.
The investment was led by James Hall, Matt Tice and Hannah Kirkup from the Key team. Legal advice was provided to the Key team by John Hamer and Kayleigh Watson at Walker Morris and tax structing work by Fletcher Adamowicz of BHP. Due diligence was conducted by Laura Bollen of RSM (Financial), Jack Hibbs of Armstrong (Commercial), Ben Morton of Intechnica (IT) and Dan O’Connell of Gallagher (Insurance).
We are excited to work alongside theICEway and help drive their ambitious growth strategy. Their deep industry expertise and strong client relationships make them a standout company in the specialised cruise technology sector. Together, we look forward to unlocking new opportunities for innovation and expansion.
This is the seventh investment from KCP IX. We make equity investments into growth businesses and have an outstanding track record of delivering strong returns for our investors and supporting management teams to create exceptional businesses.