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Travers Smith advises Livingbridge on reinvestment in Sykes Holiday Cottages

Overview

Travers Smith LLP has advised long-standing client Livingbridge on its reinvestment as a minority shareholder in Sykes Holiday Cottages (Sykes), the UK's leading independent holiday home provider with over 25 years' experience in the market.

Livingbridge first invested in Sykes in January 2015, when the business managed 5,000 properties in the UK and Ireland. Advised by Travers Smith, Livingbridge then successfully sold Sykes to Vitruvian Partners in October 2019, at which time it managed over 17,500 properties, having successfully delivered market leading organic growth and completed 12 acquisitions underpinned by a highly effective digital transformation strategy. 

The Travers Smith team was led by Private Equity & Financial Sponsors Partner Jim Renahan, assisted by Private Equity & Financial Sponsors Senior Associate Tom Hartwright.

Vitruvian Partners was advised by Mayer Brown International LLP.