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Harris Williams Advises Forest Holidays on its Pending Sale to Sykes Holiday Cottages

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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