Deal Details

White Desert and Echo Charlie Receive Majority Investment from Lindblad Expeditions

Technology & Services

White Desert and Echo Charlie majority investment from Lindblad Expeditions

Summary

Lindblad Expeditions Holdings, Inc. (NASDAQ: LIND) (“Lindblad Expeditions”) announced the acquisition of a majority stake in White Desert and Echo Charlie. Lindblad Expeditions acquired a majority stake of 60% in White Desert and Echo Charlie for an aggregate cash purchase price of approximately $61 million, plus approximately $6 million for cash on the balance sheet and subject to customary true-up adjustments for working capital, cash and indebtedness.

Baird served as the exclusive financial advisor to White Desert and Echo Charlie on this transaction.

About

White Desert was founded in 2005 by record-breaking polar explorer Patrick Woodhead to make the interior of Antarctica accessible to guests from around the world. Today, the company employs over 150 staff representing 18 different nationalities and continues to lead the industry in aviation, safety and sustainable luxury travel. White Desert is headquartered in Cape Town, South Africa.

Echo Charlie runs luxury adventure journeys aboard a fully-refurbished vintage DC-3, carrying 12 guests at a time into some of the world’s least-reached regions. Its journeys connect remote landscapes and cultures in a single arc, pairing real adventure with laidback comfort. It offers rare access, the assurance of safety and moments of genuine awe that restore a sense of wonder at the world. Echo Charlie is headquartered in Cape Town, South Africa.

Lindblad Expeditions is a leader in global expedition travel, offering immersive, educational journeys that span all seven continents through its eight pioneering brands. Driven by a passion for the planet and the belief that there is always more to be discovered, Lindblad Expeditions leads travelers to the farthest reaches of the world with an expansive portfolio of ship, air and land-based expeditions. In collaboration with National Geographic, Lindblad Expeditions operates and sells the National Geographic-Lindblad Expeditions co-brand, which offers ship-based voyages that allow guests to explore remote destinations alongside scientists and naturalists, and with state-of-the-art exploration tools. In addition to its renowned modern expedition cruises, the firm’s award-winning land-based brands—Natural Habitat Adventures, Off the Beaten Path, DuVine Cycling + Adventure Co., Classic Journeys, Wineland-Thomson Adventures, White Desert and Echo Charlie—provide extraordinary wildlife, cultural and adventure-focused experiences. Together, these brands connect travelers with some of the planet’s most inspiring natural and cultural landscapes, fostering a deep appreciation for the world. Lindblad Expeditions is headquartered in New York City, New York.

Technology & Services

White Desert and Echo Charlie majority investment from Lindblad Expeditions