Harris Williams Advises Sykes Holiday Cottages on its Sale to Vitruvian Partners
October 28 2019 - 3:06PM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces that it advised Sykes Holiday
Cottages (Sykes), a portfolio company of Livingbridge, on its sale
to Vitruvian Partners (Vitruvian). Sykes is a leading independent
holiday home provider in the UK, Ireland and New Zealand. 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 undoubtedly one of the biggest success stories in the
European holiday home rental sector, with an unmatched organic and
M&A-driven growth record in the UK, Ireland and New Zealand,”
said Ed Arkus, a managing director at Harris Williams. “It has been
a pleasure to work alongside Sykes’ management team as well as to
have the opportunity to advise Livingbridge on another exceptional
result.”
Will Bain, a managing director in the firm’s Consumer Group
added, “Through consistent investment in people and technology,
Graham and his team have built a formidable platform for growth. We
look forward to following the company’s next chapter in partnership
with Vitruvian, one of the most active backers of travel and
technology businesses in the mid-market.”
Sykes is the UK’s leading and fastest-growing 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 £200m. The team has been backing growing businesses
together for twenty years. They have done it over 150 times,
turning many into household names both at home and abroad. They
pride themselves on understanding the people behind growing
companies in consumer markets; healthcare and education;
technology, media and telecommunications; financial services and
business services, and helping them to achieve what’s right for
them and their business.
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 & healthcare, media, and business and consumer
services. Vitruvian is currently investing from its third fund, the
€2.4bn Vitruvian Investment Partnership III, which is among the
largest pools of capital in Europe supporting innovative and higher
growth companies. Notable investments to date include global market
leaders in their fields such as Just Eat, FarFetch, Darktrace,
Trustpilot, CRF Health, Snow Software, TransferWise and others. The
firm’s previous investments in the travel technology category
include Travel Counsellors, JacTravel, Skyscanner and OAG.
Harris Williams, an investment bank specializing in M&A
advisory services, advocates for sellers and buyers of companies
worldwide through critical milestones and provides thoughtful
advice during the lives of their businesses. By collaborating as
one firm across Industry Groups and geographies, the firm helps its
clients achieve outcomes that support their objectives and
strategically create value. Harris Williams is committed to
execution excellence and to building enduring, valued relationships
that are based on mutual trust. Harris Williams is a subsidiary of
the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams Consumer Group has completed more than 60
transactions in recent years across a variety of verticals,
including branded consumer products; consumer services; food,
beverage and agribusiness; and restaurant and retail. For more
information on the Harris Williams Consumer Group and other recent
transactions, visit the Consumer Group’s section of the Harris
Williams website.
Harris Williams LLC is a registered broker-dealer and member of
FINRA and SIPC. Harris Williams & Co. Ltd is a private limited
company incorporated under English law with its registered office
at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered
with the Registrar of Companies for England and Wales (registration
number 07078852). Harris Williams & Co. Ltd is authorized and
regulated by the Financial Conduct Authority. Harris Williams &
Co. Corporate Finance Advisors GmbH is registered in the commercial
register of the local court of Frankfurt am Main, Germany, under
HRB 107540. The registered address is Bockenheimer Landstrasse
33-35, 60325 Frankfurt am Main, Germany (email address:
hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery
H. Perkins, Paul Poggi. (VAT No. awaited). Harris Williams is a
trade name under which Harris Williams LLC, Harris Williams &
Co. Ltd and Harris Williams & Co. Corporate Finance Advisors
GmbH conduct business.
For media inquiries, please contact Katie Langemeier, associate
brand manager, at +1 (804) 915-0179.
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version on businesswire.com: https://www.businesswire.com/news/home/20191028005680/en/
Katie Langemeier, associate brand manager, +1 (804) 915-0179
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