Sykes Holiday Cottages has bought an eco-home and tree-house business for £300m.
The cottage rental business, backed by private equity firm Vitruvian Partners, has taken a majority stake in Forest Holidays, which provides quirky holiday homes on Forestry Commission land.
The vendors are an investor group led by Phoenix Equity Partners and LDC – part of Lloyds Banking Group – together with Forestry England, Forestry and Land Scotland and Natural Resources Wales. The three forestry bodies will remain involved as landlords to the sites.
Phoenix paid £110m for the business in 2017, which then had nine sites. Today, Forest Holidays has 12 locations, with another site set to open this year in the Brecon Beacons National Park in Wales.
