GCA Altium is now part of Houlihan Lokey

Transaction Details

January 7, 2019


Consumer, Retail, E-commerce and Leisure

Deal Type


Deal Value


Deal Team

Christopher Jones, Stuart Warriner, Laura Meaden, Richard Clark, Shane Dulabdas, Kieran Yoo, Alexandra Lopatina

GCA Altium advises Travel Chapter on an investment by ECI Partners

GCA Altium has advised Travel Chapter, one of the leading holiday lettings platforms in the UK, on an investment from ECI Partners, which provides an exit for Phoenix Equity Partners.

Founded in 1989 and based in South West England, Travel Chapter is a leading online vacation rental platform. It markets over 5,000 properties primarily in the UK through its flagship website, www.holidaycottages.co.uk and other specialist web domains.

The business provides a compelling holiday lettings proposition to both property owners and customers through its sophisticated marketing capabilities and highly rated customer service model. Travel Chapter’s market is largely resilient to macroeconomic factors and is characterised by a fragmented competitive landscape, resulting in a clear opportunity to consolidate its position as one of very few nationwide providers of critical scale in the UK.

In 2016 Phoenix Equity Partners invested in Travel Chapter to support the expansion of the business through a combination of organic and acquisitive growth. During the course of Phoenix’s investment, 20 acquisitions were completed, the number of properties under management and the number of employees more than doubled, and profits increased more than threefold. CEO Jamie Morris will continue to lead the business through the next stage of its growth.

Jamie Morris, CEO, said: “We are really pleased that we chose to partner with GCA Altium to help us oversee the latest investment into the business. We found them very professional throughout, but also friendly to work with and on hand at any stage of the process. Their knowledge at key stages of the process was invaluable and we really enjoyed working with Christopher, Laura and the rest of their team.”

Christopher Jones, Managing Director at GCA Altium, added: “It has been a pleasure to advise the shareholders of Travel Chapter on this landmark transaction. The incredible growth the business has achieved since Phoenix invested in 2016 is testament to the exceptional management team led by Jamie and Jayne, and I have no doubt that the business will continue to thrive under ECI’s stewardship. The business is superbly positioned to capitalise on the enduring demand for UK staycations and we will be following their progress with interest.”

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