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Inflexion, the private equity firm owner of On the Beach, today confirmed taking a majority stake in luxury operator Scott Dunn Holdings.

The deal, for an undisclosed sum, had been speculated to be worth up to £70 million.

Inflexion managing partner Simon Turner said: “Scott Dunn is a premium brand with significant global potential. We’re delighted to be backing an exceptional management team in a sector which we know well.

“Our investment will enable the company to expand into new areas and, with support from our digital director, enhance their digital presence to bolster guest experience and support sales growth. 2014 has been a great year for Inflexion and we’re looking forward to the year ahead with another exciting business in our portfolio.”

Andrew Dunn, president of Scott Dunn, who will remain a significant shareholder, said: “I am pleased that Inflexion is investing in Scott Dunn to help further build this amazing company and nurture the brand I created. Their investment and guidance will enable the Scott Dunn team to expand their portfolio of destinations and products we can offer to guests. I am excited about our next stage of growth.”

Company chief executive Simon Russell said: “We have built a great rapport with the Inflexion team and with their proven track record of helping British businesses grow internationally and through acquisition; we are pleased they are backing our ambitious expansion plans. We are committed to continue delivering exceptionally high standards of service to our current and future guests.”

Founded in 1986 by Dunn, the operator runs luxury holidays from skiing and Mediterranean resorts to tailor-made journeys and bespo