Taylor Wessing has advised its client, On the Beach Group plc, on its IPO on the main market of the London Stock Exchange this week. The offer price was set at 184 pence per share, which equates to a market capitalisation of approximately £240 million.

On The Beach is a leading online retailer of affordable short-haul beach holidays, primarily targeting customers in the United Kingdom under the ‘‘On the Beach’‘ brand. On The Beach’s technology platform enables customers to package dynamically the constituent components of their holiday (including flights, hotels and transfers) to customise holidays from millions of flight and hotel combinations.

Through its flotation, On The Beach will raise £90.2 million, of which £83.8 million is for selling shareholders, including certain members of the management team and Inflexion Private Equity.

Taylor Wessing’s team was led by London head of corporate finance Russell Holden and associates Katie Bennett, James Homan and Joanna McMurdo.

Taylor Wessing’s role in the IPO marks the firm’s involvement in yet another key industry listing, having recently acted on a number of other high profile IPOs and secondary fundraisings. It follows previous work with Inflexion Private Equity, including the £308m IPO of FDM Group, in which they were also a majority shareholder.

Russell Holden, London head of corporate finance commented on the deal, saying:

“On the Beach is right in Taylor Wessing’s sweet spot – a disruptive high growth business in a dynamic industry. Its growth over the past 11 years into one of the leading online retailers of beach holidays has been an incredible achievement, all the more so given the recent uncertainties in the macroeconomic environment.”