Vitruvian Partners has invested an undisclosed sum into Sykes to fund the company’s plans for international and UK expansion.
The total is enough to replace Livingbridge as the majority stakeholder, which invested in Sykes in 2015.
This year Sykes manages more than 17,500 properties and has acquired 12 businesses, including the 2,000-strong New Zealand rental property firm Bachcare.
The new investment will go towards technology and people, Sykes said. It has plans to send 3.5 million people on holiday each year by 2023 and grow its workforce to more than 1,000 people.
