TRAVEL: Key Capital Partners invests in theICEway

We provided buyside commercial due diligence to Key Capital Partners (Key) on its strategic growth investment in theICEway, a specialised cruise technology company. 

With a strong reputation for delivering cutting-edge IT solutions tailored to the cruise industry, theICEway has become a trusted partner to cruise operators and travel companies worldwide. Their innovative technology services include cloud solutions, managed services, system integration, and digital transformation, helping clients navigate the unique challenges of the maritime industry. 

The growth investment from Key will further support theICEway’s ambitions to remain at the forefront of technological advancements. With an increased focus on innovation, the company plans to develop new services, reinforce its infrastructure, and enhance its presence in key markets. This partnership will also allow theICEway to invest in talent and expand its team to meet growing client demand. 

Armstrong provided focused CDD including in-depth interviews with theICEway’s clients, partners and IT vendors, alongside conversations with numerous other cruise specialists. Our commercial strategy work looked at trends in theICEway’s markets and helped to develop potential growth strategies. We also provided a detailed assessment of the software propositions available to cruise operators. 

Hannah Kirkup, Investment Manager at Key said: “We are pleased to have completed our investment in theICEway with the support of Jack and the Armstrong team. They carried out extensive interviews and a detailed assessment of the market. This gave us clear & useful insight to support our investment hypotheses.” 

Jack Hibbs, Engagement Manager at Armstrong, added, “We really enjoyed working with Key and theICEway, and are delighted to have helped the transaction. theICEway is an excellent business and feedback from clients, IT vendors and partners all validated its clearly differentiated position in the market.” 

If you are interested in talking to Armstrong about opportunities in travel and technology, please contact:  

Jack Hibbs

[email protected]
+44 7883 296 346