The 32-year-old and Chloe, 31, called time on their relationship this week, reportedly following their rows over her friendship with ex boyfriend Mario Falcone, 26.
TOWIE star Elliott told the Mirror: "I am heartbroken. We had five months together, but it is what it is."
Following Mario's return to the Essex reality show, during its Ibiza special, Elliott and Chloe clashed over her desire to have lunch with her ex and clear the air.
But a rep for business owner Elliott denied Mario is behind the split, claiming that it was a completely different issue that led to the end of their relationship.
Both Elliott and Chloe have children from previous relationships, and had introduced them to each other.
Elliott's spokesperson said: "They love each other but they've been having a few rows. Not over Mario, that's a completely separate issue.
"They have split – they're taking a break. They're amicable. Seeing as they both have children, Elliott made the decision to walk away before they decide what the future holds."
And Elliott seems keen to insist their split had nothing to do with Mario, telling the newspaper: "It wasn't to do with Ibiza."
Elliott is turning to work to help him get over the split, admitting he's looking to expand his businesses.
He said: "I've taken a look around Funky Mojoes [Essex night club]. I'm scouting a few places at the moment and have been meeting with chefs."