The billionaire and the investment fund have made the acquisition of Ponant official. The company specializing in polar cruises will be sold by Bridgepoint to Artemis. The value of the transaction has not been communicated.
Develop the company and maintain its status of excellence
Artemis, said in a statement, "Relying on the current management team, led by Jean-Emmanuel Sauvée, co-founder and chairman, and Véronique Saadé, vice-chairwoman of the board, Artémis intends to pursue the strategy of innovation and excellence that has enabled Ponant to make its fleet the symbol of French refinement and art de vivre." And to add that the Ponant "is part of the great French tradition of maritime navigation by offering its customers exceptional itineraries around the world and high quality services."
Le Ponant, a growing luxury cruise line
Based in Marseille, the Ponant company currently carries more than 30,000 passengers per year to the polar regions, but also elsewhere in the world. This luxury player was acquired by Bridgepoint in 2012 from CMA-CGM Group, the French container shipping company. Founded in 1988 and employing 189, Ponant has the youngest and one of the most invested fleets in the market. Currently, all five vessels are approximately 2.5 years old.
Under Bridgepoint's leadership, the company has doubled its sales to 140 million euros and tripled its profits. This was due to several factors. First, the increase in fleet capacity by 11% per annum, driven by the addition and financing of two new vessels to the fleet and the retirement of two older ones. Second, geographic expansion with the opening of sales offices in China and Australia. Finally, the acquisition of TDI, another sales distribution channel in the important North American cruise market.
Jean-Emmanuel Sauvée, co-founder and president of Le Ponant, said "We have worked well with Bridgepoint during a period of expansion for our company. Over the past three years, we have expanded our specialty luxury cruises to a new customer base, launched new ships and significantly expanded our business. Today, we enter a new era with a similar shareholder who shares our vision and ambition for Ponant as a specialist in the luxury cruise market."
Xavier Robert, a partner at Bridgepoint in Paris, said "The transformation and progress made by the company has been remarkable and we are proud to have, with the management team, contributed to its success. The proposed transaction ensures the continuity of the company's ambitions, with the acquisition of our interests by a long-term shareholder with the same vision as Ponant."
