Springboard Advises on 14th Acquisition for Sykes Holiday Cottages
Springboard Corporate Finance is delighted to announce that it has advised long-standing client Sykes Holiday Cottages on the acquisition of a Suffolk business, adding a further 400 properties to its existing nationwide portfolio. Sykes has been backed by Vitruvian Partners since 2019.
Best of Suffolk was founded 15 years ago by husband-and-wife team, Alex and Naomi Tarry. It has been acquired by Sykes – which is expanding its footprint across the Suffolk coast, the Brecks and throughout Constable country with the purchase. The business will operate as a sister agency, supported by its existing team of employees in Badingham.
Client on Springboard
"We have worked with Springboard for over 5 years and they play a key role in the delivery of our acquisition strategy. Best of Suffolk is a deal that Springboard were integral to originating and getting across the line. As always, we are delighted with the support and guidance we received from the team.” -- Michaela Davies, Corporate Development Director - Sykes Holiday Cottages
Graham Donoghue, chief executive of Sykes Holiday Cottages, said: "Like Sykes, the emphasis at Best of Suffolk has always been on providing wonderful holidays with high-quality customer service.
"This deal will enable the business to continue to grow with those principles at its heart, while also allowing us to bring all that this beautiful part of the country has to offer to a much broader audience of holidaymakers."
Alex and Naomi will step down from the business to pursue other adventures, with Alex saying: "Stepping down after 15 years has been a difficult decision to make but we are sure that our team, our property owners and our guests will be in good hands with Sykes Holiday Cottages."
Sykes was advised on the deal by Springboard Partner Simon Ward, Director James Bailey and manager David Lee. Simon commented “we are delighted to have supported Sykes on the acquisition of Best of Suffolk. This is the 14th acquisition we have worked on for the team and represents a key strategic development for Sykes in East Anglia”.
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