He remains as a significant shareholder in the group.

Bacon joined Cruise.co.uk when Risk Capital acquired the company for £14 million and was “instrumental” in the £52 million sale of the business to BDC in 2016 and then the acquisition and integration of Germany based Kreuzfahrtberater.de last year, delivering more than 400% increase in turnover during his tenure.

Bacon has got a long track record in the travel industry. He joined Gold Medal in 2006 before leading the integration of the tour operator and Thomas Cook to create a £650 million scheduled business, eventually becoming managing director for that division.

Bacon said: “I feel the time is right to take all my experience turning around and growing businesses to seek new challenges and pursue other private equity investment opportunities.

“I am proud to be leaving Cruise.co.uk in an excellent position for the next phase of its future development.”