A Travers Smith team, led by Private Equity partners James Renahan and Edmund Reed, has advised long standing client Phoenix Equity Partners ("Phoenix") on their investment in Riviera Travel ("Riviera").

Riviera is one of the UK's leading providers of overseas escorted tour holidays and river cruises (its core customers typically being travellers over the age of 50). Riviera has grown at a significant rate over the past few years, consistently delivering turnover growth of over 20% per annum. In 2014, Riviera carried over 115,000 passengers.

The terms of the transaction are confidential.

The Travers Smith team that advised on the transaction included Tax partner Russell Warren, Banking partner Andrew Gregson and Private Equity associates Moushumi Sharmacharja, Laura Pembridge and Clarissa Otte.

Riviera was advised by Andrew Lawton-Smith of Wragge Lawrence Graham. Riviera's management, who are remaining with the business, were advised by Jit Singh of Howes Percival.