The deal sees founder Stuart Wilson, chair Andrew Gardner and existing investor Lawrence Dean increase their investment, with existing backers LDC – the private equity arm of Lloyds Banking Group – remaining as shareholders.

According to Wilson, the additional capital will "accelerate" Blue Bay Travel's growth through "innovation" and strategic acquisitions. Gardner added the agency is "perfectly positioned" to capitalise on a growing demand for "expertise-led, digitally driven" travel.

"Blue Bay Travel has an impressive track record and a clear strategic vision," he explained. "Together with Lawrence, we’re delighted to support [chief executive] Alistair Rowland and the leadership team as they pursue exciting new opportunities to take the business to the next level."

Blue Bay Travel, which was founded in 2003 by Stuart and Angela Wilson, was named Top Online Agency at the 2024 Top 50 Travel Agencies by TTG, and went on to retain its place in the Top 50 in the same category last year.