PDM’s PCS3 fund acts as sole senior secured lender to support ECI Partners’ acquisition of The Travel Chapter10 January 2019
Permira Debt Managers (“PDM”), one of Europe’s leading specialist debt investors, today announces that Permira Credit Solutions III (“PCS3”) is acting as sole senior secured lender to support ECI Partners’ acquisition of The Travel Chapter, a UK holiday lettings company with a network of 26 brands, including holidaycottages.co.uk, and over 5000 UK properties.
The deal continues PDM’s focus on supporting high-quality sponsors investing in ambitious and differentiated European businesses with long-term growth prospects in attractive end markets.
Daniel Hatcher, Investment Director at PDM, commented:
“We are pleased to have been able to support ECI’s investment in The Travel Chapter, a great business in a dynamic sector that PDM knows very well.
“The Travel Chapter is already in a strong market position taking in significant bookings every year across its network of over 5000 properties. With its strong IT platform and extensive regional specialism, it is well-placed to take advantage of the increase in demand for holidays within the UK.
“We look forward to working closely with the teams at both ECI and The Travel Chapter to further develop this business in its existing and new markets.”