OnTheBeach is the latest brand to be caught up in the relatively frenzied burst of activity taking place in the UK's mid-market travel sector.
The LSE-listed online travel agency, which handles one million passengers a year and claims a 17% share of the UK's online short-haul beach holiday market - has announced that Inflexion has sold 10 million shares - equivalent to around 7% of the issued share capital - in the OTA for £21.5 million.
Inflexion still holds 29.5% of the shares after the sale.
A few days before its OnTheBeach disposal, Inflexion invested an undisclosed amount in business travel agent Reed & Mackay, buying out former investors ECI Partners and Livingbridge.
When buying the TMC, Inflexion noted Reed & Mackay's "superior technology platform" and that the investors have "experience from across the travel sector both with consumer brands, Scott Dunn and On the Beach, where bespoke technology also played a significant part in growth and differentiation."
OnTheBeach's latest trading statement, issued at the end of July, said that the business was on track to hit profitability targets for the year despite a number of external factors such as industrial action and terror attacks.
One external event which is working in its favour is the collapse of the Lowcostholidays group. OnTheBeach has no direct exposure to Lowcost but " has seen an immediate improvement in trading dynamics, with a higher share of market traffic, lower costs per click and improved revenue per unique visitor."
Inflexion's portfolio shake-up comes at the same time as Bridgepoint Capital spent £52 million buying Risk Capital's majority stake in cruise retailer cruise.co.uk.
Related reading from Tnooz:
Lowcost Travel Group shuts doors, blames external financial environment (July 2016)
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