Sale of UK luxury ski chalet firm agreed
European home rental firm Emerald Stay has concluded the acquisition of UK luxury chalet operator Ski Verbier Exclusive (SVE) for an undisclosed sum.
SVE has been operating in the Swiss Alps for more than 30 years under chief executive Tom Avery, a polar explorer and author.
The business has bases in the Cotswolds and Verbier providing services for high-net-worth UK and international clients.
Barcelona-based Emerald Stay is a certified B Corp firm running short-term premium home rentals. It also has a Geneva office.
Emerald Stay chief executive Maxime Friess said that the deal involved a “complex cross-border transaction involving multiple components of cash, equity and debt instruments”.
He added: “The acquisition of SVE spearheads our entry in the ultra-high luxury rental market, a very valuable segment of the travel sector with strong fundamentals that we will be looking to expand beyond the Verbier footprint with the expertise of Tom and his team.
Avery said: “Our partnership with Emerald Stay will help us take our business forward to an exciting future.”
The takeover was facilitated by Summit Advisory, the business growth, mergers and acquisitions arm of travel accountancy firm Elman Wall.
Summit Advisory founding director Deborah Potts said: “It was a real pleasure working on behalf of Tom and his other shareholders to secure the successful sale of this highly acclaimed brand to Emerald Stay, a new European entrant to the UK travel industry.
“As with all deals, chemistry and cultural fit are key. It was apparent from outset that there was an incredible meeting of minds and values between Tom and Max. I have no doubt that they and their highly talented teams will now take both businesses to even greater heights.”