Piper Sandler served as sole debt placement agent for Awayday, a portfolio company of LightBay Capital, on a debt capital raise.
Transaction details as published
Type: Mergers & Acquisitions. Sub-type: Senior Term Loan. Sector: Services & Industrials. Sub-sector: Residential Services. Announced September 2024. Piper Sandler's role: sole debt placement agent.
This item is a transaction announcement published by Piper Sandler rather than a full company press release. Terms were not disclosed.
Awayday context
Reading this transaction in context
This item is a transaction tombstone published by Piper Sandler, not a company press release, which is why it is short on narrative. A senior term loan is ordinary growth financing for a property management platform: it funds acquisitions of local management companies and working capital for onboarding those portfolios, rather than day-to-day operations.
Placed in sequence, the 2024 debt raise precedes the 2025 strategic investment by Ares Management with LightBay Capital reinvesting. Together they describe a company that financed its expansion in steps while continuing to add brands and homes across its vacation markets.
Terms were not disclosed, and Awayday does not comment beyond what the placement agent published. For questions about the financing history or current portfolio scale, use the press contact form and we will route it to the right person.
Reporters can quote the approved boilerplate below, pull current figures from the fast facts on the press hub, download the wordmark from brand assets, or see who runs each part of the business on the leadership page.
Original source
This announcement was published by Piper Sandler on September 6, 2024. Read it in full at the source.
View on Piper SandlerAbout Awayday
Awayday brings together top-tier vacation rental companies under one national platform. The collection spans 60+ local brands and 15,000+ vacation homes, condos and cabins across 11 U.S. states, hosting 1,200,000+ guests a year. Each local brand keeps its own name, team and market expertise, backed by shared technology, marketing and revenue management, and a team of more than 1,200 hospitality professionals. Awayday is headquartered in Destin, Florida.