Nocturne Luxury Villas, Backed by Gladstone Investment Corporation, Announces Third in a Series of Investments in the Luxury Vacation Rental Sector with the Acquisition of West Indies Management Company (WIMCO Villas)
01/04/2022 | 03:17pm EDT
MCLEAN, VA, Jan. 04, 2022 (GLOBE NEWSWIRE) -- Nocturne Luxury Villas (“Nocturne” or the “Company”), together with Gladstone Investment Corporation (NASDAQ: GAIN) (“Gladstone Investment”), acquired West Indies Management Company, a leading villa rental manager on the island of Saint Barthélemy in the French West Indies, including its sister company based in St. Jean, WIMCOsbh (“WIMCO”). This investment is the third by Nocturne who last year announced its acquisition of Exceptional Stays based in Telluride, CO and St. Barth Properties.
WIMCO Villas was founded in 1983 by Brook Lacour. In 1984, Tim Warburton partnered with sister-in-law Lacour to build a villa rental market for travelers to St. Barths, out of a U.S. office based in Newport, Rhode Island. In the ensuing years, WIMCO added villa rental offerings in Anguilla, Barbados, and the Turks & Caicos, along with Italian and French properties. The company strengthened its presence on St. Barths in 2010 upon establishing WIMCOsbh, a dedicated on-island office, offering customized personal assistant-like service for its clients. Collectively, the company currently represents over 1,800 villas worldwide and is a recognized leader in the sector.
Scott Simmons, Nocturne CEO, commented: “WIMCO has a track record of consistently delivering outstanding guest experiences and performing at the highest standard for homeowners, who we are privileged to serve. We bring a commitment to the companies that we invest in, their brands and their people, to preserve and build upon their successful legacies. We also introduce technologies to improve service delivery. Tim Warburton and WIMCO are pioneers in the villa rental sector and pillars of the community on St. Barths and we’re excited that the Warburton family will remain involved going forward.”
Tim Warburton, WIMCO’s CEO, added: “Together with a loyal and passionate team, we created and maintained a client-centered business for 37 years. In looking at the future of WIMCO, I believe Nocturne will preserve the familial ethos and sage advice that the WIMCO team provides and that our clients appreciate, while expanding new opportunities for growth. I wish them continued success as they strengthen the villa rental platform.”
Peter Roushdy, Executive Vice President and Managing Director of Gladstone Investment’s investment adviser, observed: “WIMCO is an iconic name in luxury travel, emblematic of savoir faire, cachet and good taste. We’re honored to be able to carry its traditions forward as part of Nocturne.”
Gladstone Investment partnered with Aureus Capital and members of the Company’s executive management in the formation of Nocturne, a platform for acquiring and integrating luxury vacation rental management companies. Nocturne was founded by Scott Simmons, Marshall Calder and Carl Colletti, Nocturne’s Chief Executive Officer, President and Chief Financial Officer, respectively.