Harris Williams Advises Sykes Holiday Cottages on its Sale to Vitruvian Partners.

M2 EQUITYBITES-October 29, 2019-Harris Williams Advises Sykes Holiday Cottages on its Sale to Vitruvian Partners

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29 October 2019 - UK-based investment bank Harris Williams advised UK holiday home provider Sykes Holiday Cottages a portfolio company of Livingbridge, on its sale to private equity firm Vitruvian Partners, the bank said.

Sykes is an independent holiday home provider in the UK, Ireland and New Zealand. The price was reportedly GBP 375m (USD 482.95m).

The transaction, led by Ed Arkus, Will Bain and Krishna Patel of the Harris Williams Consumer Group, extends the firm's experience in the travel space.

Sykes is an independent holiday cottage rental agency with over 25 years' experience in the business.

Based in Chester, they offer a fantastic choice of over 17,500 holiday homes across the UK, Ireland and New Zealand from cosy cottages for two to larger properties that sleep 20 or more.

Founded in 1991, Sykes is also one of the best-known travel brands, having won the British Travel Award for Best Large Holiday Cottage Booking company for six consecutive years.

Livingbridge is a mid-market private equity firm with offices in the UK, the US and Australia, investing in fast growing companies valued up to GBP 200m.

Vitruvian is an international private equity firm headquartered in London with offices across London, Stockholm, Munich, Luxembourg, San Francisco and Shanghai.

Vitruvian focuses on dynamic situations characterised by rapid growth and change across industries spanning information technology, financial services, life sciences and healthcare, media, and business and consumer services.

Vitruvian is currently investing from its third fund, the EUR 2.4bn Vitruvian Investment Partnership III, which is among the largest pools of capital in Europe supporting innovative and higher...

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