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ECI Partners sells Travel Chapter to management team
- Paul Stevens
- January 10, 2022
- ECI Partners , George Moss , ICG , James Roddis , Jayne McClure , Travel Chapter
UK: Private equity firm ECI Partners has announced that it has sold Devon-based holiday letting agency Travel Chapter to the management team, supported by investment from Intermediate Capital Group [ICG].
ECI bought its stake in the company four years ago, and since then, Travel Chapter has grown organically and through seven acquisitions, most notably Sally’s Cottages last June, which owned a portfolio of more than 500 properties in the Lake District.
Offering a selection of 8,000 properties across the UK, Travel Chapter’s brands include Holidaycottages.co.uk, and regional businesses such as Canine Cottages and Cottages & Castles.
Jayne McClure, chief executive of Travel Chapter, told Travel Weekly : “ECI have been highly supportive in helping Travel Chapter deliver on both organic and acquisitive growth. Our shared alignment on the importance of both owners and customers helped us to attract fantastic new properties and continue to deliver our exceptional customer service as we have scaled.
“I’d like to thank them for a successful partnership and I look forward to working with ICG over the coming years as we continue to deliver on the growth potential of the Travel Chapter brands,” she added.
George Moss, partner at ECI, told the same publication: “Jayne and the team have done a fantastic job building the business through both M&A and organic growth and shown great leadership of a resilient business against a challenging Covid backdrop. Travel Chapter’s focus on high quality properties and excellent owner and customer service means they are really well placed to benefit from the enhanced long-term growth trends in the staycation sector.”
James Roddis, managing director at ICG, said: “We are delighted to partner with Travel Chapter’s exceptional management team, who have succeeded in building a market leading holiday rental platform, offering fantastic service to both property owners and customers. We believe there is huge further growth potential for the business and we are looking forward to working with Jayne and the wider management team in the next exciting stage in Travel Chapter’s journey.”
It was reported late last year that Travel Chapter, which was founded in 1989, was preparing to go public by filing for an initial public offering [IPO] but the planned float was delayed in November due to “market volatility”.
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Travel Chapter sold to management team
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Private equity firm ECI Partners has sold self-catering holiday rentals Travel Chapter to the management team, supported by investment from Intermediate Capital Group (ICG).
Travel Chapter offers about 8,000 properties across the UK, and features brands such as Holidaycottages.co.uk (pictured), Canine Cottages and Cottages & Castles.
ECI acquired stake in Travel Chapter in 2018 , and the business has since grown, both organically and through seven acquisitions.
In June 2021, the business made its largest acquisition to date, acquiring the Sally’s Cottages brand, which has more than 500 properties in the Lake District.
Jayne McClure, chief executive of Travel Chapter, said: “ECI have been highly supportive in helping Travel Chapter deliver on both organic and acquisitive growth.
“Our shared alignment on the importance of both owners and customers helped us to attract fantastic new properties and continue to deliver our exceptional customer service as we have scaled.
“I’d like to thank them for a successful partnership and I look forward to working with ICG over the coming years as we continue to deliver on the growth potential of the Travel Chapter brands.”
George Moss, partner at ECI, added: “Jayne and the team have done a fantastic job building the business through both M&A and organic growth and shown great leadership of a resilient business against a challenging Covid backdrop.
“Travel Chapter’s focus on high quality properties and excellent owner and customer service means they are really well placed to benefit from the enhanced long-term growth trends in the staycation sector.”
James Roddis, managing director at ICG, commented: “We are delighted to partner with Travel Chapter’s exceptional management team, who have succeeded in building a market leading holiday rental platform, offering fantastic service to both property owners and customers.
“We believe there is huge further growth potential for the business and we are looking forward to working with Jayne and the wider management team in the next exciting stage in Travel Chapter’s journey.”
ICG already owns Park Holidays UK, which has 42 holiday parks.
Travel Chapter was reported previously to have been working on an IPO, advised by Houlihan Lokey, an American investment bank.
In November 2021, a plan by Travel Chapter to go public was delayed due to “market volatility”.
The IPO plan had been announced in October, attracting interest from investors on the back of a boom in staycations.
More : Travel Chapter delays IPO
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ECI announces sale of Travel Chapter for a 2.6x return
We’re delighted to announce the completion of the successful sale of Travel Chapter , the leading platform for high-quality self-catering holiday rentals, to the management team, supported by investment from ICG.
Travel Chapter is one of the UK’s leading holiday rental platforms, offering a wide selection of c.8,000 high quality properties across the UK. It has a number of consumer brands including its flagship brand Holidaycottages.co.uk and specialist lifestyle and regional brands such as Canine Cottages and Cottages & Castles, all focused on delivering exceptional customer service.
ECI partnered with Travel Chapter in 2018, and since then the business has grown strongly, both organically and through completing seven acquisitions, significantly expanding its geographic footprint and the number of high-quality properties it has available. In June 2021, the business made its largest acquisition to date, acquiring the award-winning Sally’s Cottages brand, which boasts over 500 properties in the Lake District.
“ECI have been highly supportive in helping Travel Chapter deliver on both organic and acquisitive growth. Our shared alignment on the importance of both owners and customers helped us to attract fantastic new properties and continue to deliver our exceptional customer service as we have scaled. I’d like to thank them for a successful partnership and I look forward to working with ICG over the coming years as we continue to deliver on the growth potential of the Travel Chapter brands.”
Jayne McClure
CEO, Travel Chapter
“Jayne and the team have done a fantastic job building the business through both M&A and organic growth and shown great leadership of a resilient business against a challenging Covid backdrop. Travel Chapter’s focus on high quality properties and excellent owner and customer service means they are really well placed to benefit from the enhanced long-term growth trends in the staycation sector. We wish the team all the very best for the future.”
George Moss
Partner, ECI
“We are delighted to partner with Travel Chapter’s exceptional management team, who have succeeded in building a market leading holiday rental platform, offering fantastic service to both property owners and customers. We believe there is huge further growth potential for the business and we are looking forward to working with Jayne and the wider management team in the next exciting stage in Travel Chapter’s journey.”
James Roddis
Managing Director, ICG
ECI wins two awards at the 2024 Real Deals Private Equity Awards
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Experience: The Travel Chapter · Education: University of Oxford · Location: Greater London · 500+ connections on LinkedIn. View Tim Buss’ profile on LinkedIn, a professional community of 1...
Overview. CB Rank (Person) 1,198,982. Primary Job Title CFO. Primary Organization. Travel Chapter. Location London, England, United Kingdom. Regions Europe, Middle East, and Africa (EMEA) Gender Male. LinkedIn View on LinkedIn. Tim Buss is the Chief Financial Officer of Travel Chapter. Jobs. Number of Current Jobs 1.
The company specializes in providing customers with personally inspected properties for self-catering holidays and operates brands that allow people to rent out their private residences as vacation homes, helping property owners to reach unique markets and a wide variety of audiences.
Travel Chapter specialises in providing quality accommodation all across the travel sector.
UK: Private equity firm ECI Partners has announced that it has sold Devon-based holiday letting agency Travel Chapter to the management team, supported by investment from Intermediate Capital Group [ICG].
Travel Chapter sold to management team. By Samantha Mayling. | January 10, 2022, 10:06. Share by email. Private equity firm ECI Partners has sold self-catering holiday rentals Travel Chapter to the management team, supported by investment from Intermediate Capital Group (ICG).
The Travel Chapter management team includes James Morris (Founder and NED), Sean Williams (Chairman), and Tim Buss (Chief Financial Officer) . Get Contact Info for All Departments.
Tim Buss, based in London, GB, is currently a Chief Financial Officer at The Travel Chapter, bringing experience from previous roles at Fleetway Travel and PwC. Tim Buss holds a 1999 - 2002 BA in Economics and Management @ University of Oxford.
A strategic, dynamic, commercially and operationally accomplished CFO/Finance Director…. · Experience: Travel Chapter · Education: ICAEW · Location: London Area, United Kingdom · 500+...
We’re delighted to announce the completion of the successful sale of Travel Chapter, the leading platform for high-quality self-catering holiday rentals, to the management team, supported by investment from ICG.