Livingbridge's Sykes bolts on Bachcare

The transaction marks the first international acquisition by Sykes since it was acquired by the GP in 2015, in a deal understood to have valued the company at £54m.

Bachcare itself is currently exploring expansion beyond its domestic market and the consolidated group will look to expand into new international markets.

The development comes two years after Livingbridge opened an office in Melbourne, which was designed to support the expansion of its portfolio companies and identify potential bolt-on acquisitions.

Bachcare will continue to operate under its existing brand following the deal.

Company
Founded in 2003, Bachcare is a holiday home rental and management company that manages around 2,000 properties across 150 locations in New Zealand. The company is headquartered in Parnell, near Auckland, and has a headcount of around 50.

People
Livingbridge - Matthew Jacobs (investment director).
Sykes Holiday Cottages - Graham Donoghue (CEO).
Bachcare - Leslie Preston (CEO).

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