Actev Limited has invested in Another Place Ltd, as part of a buy and build strategy in specialist destination hotels. Financial details have not been disclosed.
Actev Limited is the family office of Gavyn Davies OBE and his wife Baroness Nye who have experience in supporting and investing in family and owner-managed businesses across the consumer, leisure and retail sectors. The firm's investment philosophy is to work with exceptional management teams and to support them by providing capital for growth
Will Ashworth, founder of Another Place and Managing Director of Watergate Bay Hotel, said: “Actev is the perfect partner for us. We were impressed by how quickly they understood our vision and the speed with which they acted. From their initial approach to investment was four months and we are thankful to Oaklins' team for making the introduction and managing the transaction through to completion.”
Another Place is a new hotel collection from the team behind Cornwall's Watergate Bay Hotel. The hotels in the Another Place collection will operate independently of Watergate Bay Hotel but with the same focus on providing guests with a resort style experience reflecting the locations in which each are set.
Smith & Williamson, a UK member firm of Oaklins International Inc., advised the buyer in this transaction.
Baroness Nye said: “We chose to work with the team because of their reputation among owners of independent businesses. Their existing relationship with the Watergate Bay team was invaluable and helped build trust between all parties right from the start.”
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