ECI Partners has agreed a deal with Phoenix Equity Partners for the holiday lettings platform.
The terms of the deal have not been disclosed.

Phoenix invested £30 million in Travel Chapter in April 2016.

Travel Chapter was founded in 1989 and has grown into a major platform for UK holiday lettings with more than 5,000 properties available through Holiday Cottages and other domains.

Jamie Morris, Travel Chapter chief executive, said: “Phoenix have been fantastic partners over the last few years and I would like to thank them for their support and experience, which have proven invaluable. I look forward to working with ECI over the coming years as we continue to grow the business.”

Phoenix’s investment in Travel Chapter allowed the company to complete 20 acquisitions, more than double its portfolio and staff, and increase profits threefold.

George Moss, partner at ECI Partners, said: “Given our prior strong experience and 20-year track record in the sector, we’re excited about working with [Travel Chapter] over the next phase of the business’ growth. Travel Chapter has a strong, resilient business model and some exciting opportunities ahead.”

Will Skinner, partner at Phoenix, added: “We’re delighted to have been part of the Travel Chapter story. It’s a terrific example of how we can partner with a talented team and use our capital to rapidly and materially grow a business together. We wish the team and the new investors every success in the years to come.”