Jamieson is pleased to announce that it has advised the management team of Sykes Holiday Cottages on the acquisition of a majority stake in the business by Vitruvian Partners from Livingbridge. No financials have been disclosed.
Sykes, a UK-based vacation house rental company, manages over 17,500 properties across the UK, Ireland and New Zealand. The new partnership with Vitruvian will help to fund the firm’s plans for further UK and international expansion, as it targets serving more than 3.5 million holidaymakers annually by 2023 and growing its workforce to more than 1,000 people.
Stuart Coventry, Andrew Cox and Jack Yang advised Graham Donoghue, Michael Graham and the management team on their reinvestment in the new structure as well as the terms of the new management equity incentive.