International legal practice Osborne Clarke has advised the shareholders of London-based sharing economy start-up, Love Home Swap, on its sale to RCI, a division of the Wyndham Hotel Group.
Founded in 2011 by entrepreneur Debbie Wosskow and her brother, Ben Wosskow, Love Home Swap is one of the world’s largest home exchange platforms and had been backed by MMC Ventures. RCI’s acquisition of Love Home Swap builds upon an investment it made in the company in 2015 and will continue to run the business as an independent brand.
Debbie is a leading figure and champion for sharing economy businesses in the UK, recently standing down as chair of the Sharing Economy UK trade body that she helped establish in 2015. Osborne Clarke has long supported the sharing economy community across Europe and the US, working with a wide range of sharing businesses as they expand and grow in Europe, as well as traditional businesses seeking to capitalise on this booming market.
Andrew Saul, Senior Partner of Osborne Clarke and a director of Sharing Economy UK commented:
“This is another pleasing example of a long established business seeing the benefit of adding a sharing economy offering to its portfolio. The growing popularity of the sharing economy in the UK is a reflection of how people increasingly want to lead their lives and make best use of their assets.”
The Osborne Clarke team that advised on the sale of Love Home Swap was led by corporate Partner Simon Jones and Associate Victoria Lewis. Advice was provided on tax matters by Partner Michael Bell and Associate Kirsten Banks, and Associate Director Sue El Hachmi advised on share incentives.