EQT Credit completes unitranche financing for Sykes Cottages
EQT Credit, through its Direct Lending strategy, is pleased to provide committed senior debt facilities to support Vitruvian Partners’ acquisition of Sykes Cottages Holdings Limited (“Sykes” or the “Company”). Proceeds were used to finance the acquisition and refinance the Company’s existing debt as well as provide committed acquisition facilities to support future growth.
Sykes is a leading vacation rental management company, with more than 17,000 exclusively managed properties in the United Kingdom and New Zealand. The business has grown rapidly with significant investment in technology, providing a strong foundation for future expansion.
Paul Johnson, Partner at EQT Partners and Investment Advisor to EQT Credit, commented: “EQT Credit is delighted to be supporting Vitruvian and management as they continue to develop Sykes into one of the leading international players in the vacation rental market. With an exceptional management team and a well-invested technology platform, EQT believes the Company is well positioned to continue its strong growth trajectory. We would like to thank the advisors in the EQT Network, who added their knowledge of the vacation rental industry and provided key support and insight throughout the due diligence process.”
Michael Graham, CFO, at Sykes, commented: “We are very pleased to continue our strong relationship with EQT Credit and look forward to their continued support as we grow and build our business together with Vitruvian Partners.”
Contact
Paul Johnson, Partner at EQT Partners, Investment Advisor to EQT Credit
EQT Press Office, +46 8 506 55 334, press@eqtpartners.com
About EQT
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 40 billion in assets under management across 19 active funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
More info: www.eqtgroup.com
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About EQT Credit
EQT Credit invests through three complementary strategies: Senior Debt, Direct Lending, and Special Situations. Since inception, EQT Credit has raised over EUR 7 billion of capital and invested in over 160 companies. EQT Credit’s Direct Lending strategy seeks to provide flexible, long-term debt solutions to support European businesses, across a wide range of sectors. These businesses include privately-owned companies seeking growth capital as well as those that are the subject of private equity-led acquisitions or refinancings.
More info: www.eqtgroup.com/business-segments/credit/strategies/
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