Speaking to TTG, Seamus Conlon insisted the business would continue to be led by himself and the current management team following a sale.

“This is simply the next stage for us where we want to expand,” he said.

It follows reports in the Sunday Telegraph that the company, which is backed by Luke Johnson’s Risk Capital Partners, was looking to achieve a price of around £50 million.

The UK trading division www.cruise.co.uk Ltd made an operating profit of £2.5 million in its most recent financial year.

“We made two small acquisitions last year in Ireland [Travelbookers] and Australia [Cruising Down Under] and now we’re looking to make larger acquisitions,” Conlon said.

He added that both Irish and Australian businesses would be rebranded under the Cruise.co name, but said Travelbookers, which was previously not a cruise specialist, would continue to sell other holiday products as well. The company is now on the hunt for bigger acquisitions.

“I think over the next two years we will be looking to make larger acquisitions, so we’ll need to find another partner, to give us extra capital.”

Conlon said he did not mind if it was another travel firm company which chose to invest, although he expected the new partner to also be a private equity company. “Looking at the market, it’s likely that things will be driven by private equity. As long as that partner is supportive of our growth ambitions,” he added.

Conlon confirmed that in addition to future acquisitions, the business also had its sights set on expansion into other markets alongside Ireland and Australia, including New Zealand, Canada, and the UAE.

“It’s all looking good. We know we just need more capital to expand,” he added.