Harris Williams Advises Forest Holidays on its Pending Sale to Sykes Holiday Cottages
April 08 2022 - 10:07AM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces it is advising Forest
Holidays, a leading owner and operator of environmentally sensitive
cabins in the U.K., on its pending sale to Sykes Holiday Cottages
(Sykes), a portfolio company of Vitruvian Partners (Vitruvian).
Forest Holidays is owned by an institutional investor group, which
is led by Phoenix Equity Partners (Phoenix) and includes LDC. The
transaction is being led by Ed Arkus, Will Bain, Krishna Patel,
Michael Osborne and Andreas Illmer of the Harris Williams Consumer
Group, and extends the firm’s track record in the travel
sector.
“The combination of Forest Holidays with Sykes will create a
powerful platform of scale within the U.K. domestic holiday market.
Both businesses and management teams are united by a shared goal of
promoting sustainable tourism by positively impacting nature,
people and local communities,” said Ed Arkus, a managing director
at Harris Williams.
“Under the leadership of CEO Bruce McKendrick and with the
financial backing of Phoenix, Forest Holidays has completed a
commercial transformation, setting the business up to deliver
long-term growth,” said Will Bain, a managing director at Harris
Williams. “It has been a pleasure working with the Forest Holidays
management team in achieving an exceptional result, and we are
excited to see Forest Holidays realize and accelerate its growth
ambitions in the U.K. in partnership with Sykes.”
Forest Holidays is the owner and operator of environmentally
sensitive cabins set across Britain’s forests. Since the mid-1970s,
the company has sensitively created cabins under the guiding
principles of sustainable woodland use and the preservation of the
countryside and biodiversity. To date, Forest Holidays has invested
over £100 million into Britain’s forests, increasing recreational
use, improving facilities, and creating and maintaining trails.
Forest Holidays has 12 forest locations with many in National Parks
and Areas of Outstanding Natural Beauty, including the Loch Lomond
and Trossachs National Park in Scotland and opening later this year
in the stunning Brecon Beacons National Park in Wales.
Phoenix is a growth-focused independent private equity investor
backing profitable businesses valued up to £200 million. Phoenix
works in partnership with ambitious entrepreneurs and management
teams to help unlock their potential for growth in a variety of
sectors across the whole of the U.K.
Sykes Holiday Cottages is one of the U.K.’s leading and
fastest-growing holiday cottage rental agencies, offering over
22,500 holiday homes from property owners across the U.K., Ireland
and New Zealand. The business is backed by Vitruvian.
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 transactions
across a variety of verticals, including food, beverage and
agribusiness; branded consumer products; consumer services; and
restaurant and retail. For more information on the Harris Williams
Consumer Group and 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 8th Floor, 20 Farringdon Street, London EC4A 4AB, 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. DE321666994). 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.
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For media inquiries, please contact Julia Moore at
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