Holidaycottages.co.uk owner Travel Chapter has attracted fresh private equity investment.
ECI Partners has acquired a stake in the technology-driven marketing platform for UK holiday lettings from Phoenix Equity Partners for an unspecified sum.
Devon-based Travel Chapter markets more than 5,000 properties across the UK through its flagship Holidaycottages website and other domains.
The company provides a compelling holiday lettings proposition to both property owners and customers, through its sophisticated marketing capabilities and highly rated customer service model, according to ECI.
Phoenix, which owns Forest Holidays and Bridge Leisure, partnered with Travel Chapter CEO Jamie Morris in 2016 to support the expansion of the business through a combination of organic and acquisitive growth.
During the course of Phoenix’s investment, 20 acquisitions were completed, the number of properties under management and the number of employees more than doubled, and profits increased threefold.
Morris, who will continue to lead the business through the next stage of its growth, said: “After several years of growth and having laid strong foundations for the future, I look forward to working with ECI over the coming years as we continue to grow the business.
“Phoenix have been fantastic partners over the last few years and I would like to thank them for their support and experience, which have proven invaluable. I look forward to working with ECI over the coming years as we continue to grow the business.”
Phoenix partner Will Skinner said: “We’re delighted to have been part of the Travel Chapter story. It’s a terrific example of how we can partner with a talented team and use our capital to rapidly and materially grow a business together. We wish the team and the new investors every success in the years to come.”
ECI Partners partner George Moss added: “We are delighted to partner with Jamie and his team at Travel Chapter.
“Given our prior strong experience and 20-year track record in the sector, we’re excited about working with them over the next phase of the business’ growth.
“Travel Chapter has a strong, resilient business model and some exciting opportunities ahead.”
Phoenix were advised by GCA Altium.