Travers Smith LLP has advised longstanding client Phoenix Equity Partners ("Phoenix") on their investment in The Travel Chapter Group (the "Travel Chapter") alongside the Morris family, the Travel Chapter's founder owners.
As part of the investment the Travel Chapter's current CEO, James Morris, has made a substantial reinvestment in the business. This is Phoenix's first investment from its new 2016 fund and the investment will support the continued growth of Travel Chapter and provide funding for future bolt-on acquisitions.
Travel Chapter is a leading online marketing platform for holiday lettings in the UK with a highly rated customer service model. It currently manages over 2,200 high quality self-catering holiday properties throughout the UK and expects to deliver 55,000 bookings this year. The business was founded by the Morris family in 1989 and has achieved significant growth in recent years. Its flagship brand is holidaycottages.co.uk.
The Travers Smith team was led by private equity partner James Renahan and senior corporate associates Tamara Kilner and James Parker. The team also included tax partner Kathleen Russ and senior associate Silvana Van der Velde and associate Joseph Sheldrick.
Corporate partner John Williams led a team from DAC Beachcroft advising the Morris family.