Sykes Holiday Cottages acquires Pure Cottages Group
6 Jan 2020
LDC’s investment and support gave us the confidence, expertise and financial firepower to pursue an ambitious acquisitive growth strategy."
Paul Liddell, founder and CEO of Pure Cottages Group, added:“LDC’s investment and support gave us the confidence, expertise and financial firepower to pursue an ambitious acquisitive growth strategy. We added complementary property rental providers to our roster incrementally, delivering a sustainable programme of expansion that limited risk and encouraged growth. We’re now on an even stronger footing as we begin the next stage of our growth journey with Sykes Holiday Cottages.”
Aziz Ul-Haq, director at LDC in Manchester, said: “When we partnered with Paul in 2017, the business was already the Lake District’s top provider of premium holiday rentals. On the basis of the firm’s scalable proposition, commitment to customer service and success in a competitive local market, we knew it was well positioned to thrive across the UK.
“Working in partnership with the team to deliver the acquisitive strategy has been extremely rewarding. As the business has grown, Paul and the team have retained the focus on quality that its customers know and trust. We wish them the best of luck as part of Sykes Holiday Cottages.”
LDC has a strong portfolio of travel and leisure businesses and has invested more than £275 million to support a number of high-profile brands, such as the award-winning outdoor adventure business Zip World and holiday park operator Away Resorts.
Sykes Holiday Cottages was advised by Springboard Corporate Finance and Hill Dickinson LLP.
LDC was advised by KPMG (Corporate Finance and Transaction Services) and DLA.
*Sales and profits relate to Sykes Cottages Holdings Limited for the period ending 30 September 2019.