UK holiday lettings agency Travel Chapter has changed hands in a private equity deal for an undisclosed sum.
Phoenix Equity Partners, which bought into Travel Chapter in 2016, sold its stake to ECI Partners for 3.6 times its investment in a deal confirmed this week.
Devon-based Travel Chapter, which includes the Holidaycottages.co.uk site and a host of UK regional holiday-let sites, made 20 acquisitions between 2016 and 2018 supported by Phoenix.
Chief executive Jamie Morris will continue to lead the business. He said: “I look forward to working with ECI as we continue to grow the business.”
ECI has previously invested in tour operator Great Rail Journeys and travel management company Reed & Mackay.
George Moss, partner at ECI, said: “We are delighted to partner with Jamie and his team at Travel Chapter. Given our 20-year track record in the sector, we’re excited about working with them. Travel Chapter has a strong, resilient business model and some exciting opportunities.”
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