Inspired by France Passion after a trip in 2009, owners Steve and Mandy Clark set up Brit Stops in 2011. The annual print-based catalogue (and more recently, an app) allows motorhome and campervan tourists to discover the network of over 1,100 pit stops around the British Isles, stop overnight and travel on the next morning having enjoyed some local produce at some unique locations. The company has proved to be incredibly popular amongst the motorhome community, so much so it has attracted the attention of US company, Harvest Hosts, who plans to expand into the market the other side of the pond.
Harvest Hosts is an RV membership program with over 7,000 locations in North America where members can stay overnight at unique locations, including farms, wineries, attractions breweries etc.
Joel Holland, CEO of Harvest Hosts said
“We’re excited to take the next step in expanding overseas and welcoming Britstoppers in the UK and Ireland into our global family. We instantly bonded with the Brit Stops team over our shared mission to create lasting memories and support local businesses. Now, by combining best practices, platform capabilities, and an international network, we’re proud to enable RVers (or motorhome tourists as they say overseas) around the world to easily find a safe and unique place to spend the night.”
The deal is a fantastic opportunity for both companies as Steve and Mandy’s son, Tom Clark, will continue to head up Brit Stops operations, providing seamless continuity, whilst allowing the company to benefit from a larger pool of resources.
Steve Clark, co-founder of Brit Stops, said
“We look forward to joining the Harvest Hosts family and bringing their resources, technology and experience in this growing sector to our network. As two companies both committed to bringing travellers unique experiences while also finding ways to support small business, we’re thrilled to have found a partner that will continue this mission and help improve the community for both Britstoppers and hosts.”
PEM Corporate Finance were appointed by the vendors to provide corporate finance advice. Philip Olagunju, Samuel Reynolds and Jan Ansari supported the client throughout the negotiation process providing additional financial analysis where required. Jan Fachot from the PEM Business Tax team provided tax advice.
Sam Reynolds, Assistant Manager at PEM Corporate Finance added,
“Phil, Jan and I are delighted to have advised Steve and Mandy on the sale of Brit Stops. Throughout the process the ethos shared between Harvest Hosts and Brit Stops only became more apparent, with both sides showing refreshing pragmatism, making this a great deal to advise on. We congratulate Steve, Mandy, Joel, Leigh Ann, and Tom and wish them the best for the future.”
Legal advice to the vendors was provided by Alastair Gunn & Nichola Stephens of Buckles. Weil acted as legal adviser to the acquirer.
