Palm Beach Capital Exits Cruise Planners
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Palm Beach Capital Exits Cruise Planners

Palm Beach Capital has sold Cruise Planners, a home-based cruise focused travel agent franchise network, to the company’s management team, CEO Michelle Fee, CFO Tom Kruszewski, and Executive Vice President of Sales and Marketing Vicky Garcia. Palm Beach Capital acquired Cruise Planners in 2005.

Cruise Planners is a travel agency franchisor focused on utilizing predominately skilled travel agents to sell cruises from multiple cruise lines to the public. The company is based in Coral Springs, FL (www.cruiseplanners.com).

Cruise Planners was created by Ms. Fee along with industry veterans Lynn Korn and Marvin Davis in 1994.  Just prior to the retirement of Ms. Korn and Mr. Davis in 2007, their shares in the company were purchased by Palm Beach Capital.  Ms. Fee, who has owned the company since she co-founded it 19 years ago, said she’s thrilled about this partnership and the strength the team gives to the company with their strong commitment to agents as well as the industry.  “I am honored to say that I now have two of the best partners in the business,” said Ms. Fee. “Cruise Planners has come a long way since its inception and much of our success comes as a result of the dedication and innovation of Tom and Vicky. We believe in this industry, its potential for growth and together this partnership will strengthen the company’s efforts to support our incredible agents.”

Palm Beach Capital makes control and non-control investments of $3 million to $20 million in companies with enterprise values from $10 million to $100 million and that have a minimum EBITDA of $3 million.  The firm is both industry and location agnostic.  Since founding in 2001, Palm Beach Capital has made investments in 34 companies and has approximately $325 million in total assets under management. The firm has offices in West Palm Beach and Tampa (www.pbcap.com).

© 2013 PEPD • Private Equity’s Leading News Magazine • 1-9-13

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