BOSTON — Introduction Worldwide, one of many largest and most skilled world personal fairness traders, immediately introduced that it has signed a definitive settlement to accumulate a majority possession curiosity in North America’s main third-party resort operator Aimbridge Hospitality from Lee Fairness Companions, a U.S.-based personal fairness agency, and Basic Atlantic, a pacesetter in world development investing. Aimbridge’s skilled senior administration workforce will proceed to steer the corporate and can retain a significant fairness stake within the enterprise.
The transaction is anticipated to shut by February. Monetary phrases of the transaction weren’t disclosed.
Based mostly in Dallas, Texas, Aimbridge is North America’s main third-party resort operator, with a administration portfolio that features roughly 800 upscale, impartial and branded resorts with greater than 100,000 rooms throughout america, Canada and the Caribbean. Aimbridge supplies property administration, asset administration, growth, renovation and consulting companies to essentially the most revered resort manufacturers within the business, together with Marriott, Hilton, Hyatt, IHG and Wyndham.
“Over the previous 15 years Aimbridge has grown to turn into one of the crucial revered impartial resort managers within the business, whereas making a constructive visitor expertise and producing operational excellence for our resort companions,” stated Dave Johnson, Chairman and CEO of Aimbridge Hospitality. “We admire Lee Fairness’s strategic steering over the previous a number of years, and with Introduction’s monetary and strategic assist, we stay up for constructing on our confirmed monitor file of delivering superior outcomes for among the most prestigious resort homeowners and builders throughout the U.S. and past.”
Since 2013, Aimbridge has made vital progress on its development technique, increasing its properties below administration from eight to over 800 and penetrating full-service and select-service properties at enticing development charges. With its market-leading place and the assist of Introduction in partnership with Lee Fairness and the Aimbridge administration workforce, Aimbridge shall be effectively positioned for continued development and worldwide enlargement.
“Aimbridge has emerged because the clear chief within the fast-growing and fragmented U.S. third-party resort administration business, and we’re thrilled to accomplice with the group as we spend money on Aimbridge’s subsequent chapter of development,” stated Jeff Case, a Managing Director at Introduction Worldwide. “Aimbridge has a novel alternative to develop its attain globally by way of each natural development and strategic alternatives whereas leveraging know-how to raised serve its resort companions.”
“It has been a pleasure to work with the Aimbridge administration workforce,” stated Yoo Jin Kim, Associate at Lee Fairness Companions. “Below Dave Johnson’s robust management, the workforce has grown the enterprise persistently throughout our partnership and established a distinguished market-leading place. We stay up for their subsequent part of success.”
“Over the previous a number of years, Aimbridge has expanded considerably each by way of natural development and strategic acquisitions,” stated Peter Munzig, Managing Director of Basic Atlantic. “We have now been proud to work in partnership with Dave and the Aimbridge workforce and want them continued success.”
Introduction has in depth funding expertise within the enterprise and monetary companies and retail, shopper and leisure sectors. Over the previous 27 years, Introduction has invested $9 billion in 75 enterprise and monetary companies corporations and $11 billion in 75 corporations in shopper, retail and leisure.
About Introduction Worldwide
Based in 1984, Introduction Worldwide is among the largest and most skilled world personal fairness traders. The agency has invested in over 340 personal fairness transactions in 41 international locations and as of September 30, 2018, it had $39 billion in property below administration. With places of work on 4 continents, Introduction has established a globally built-in workforce of over 190 funding professionals throughout North America, Europe, Latin America and Asia. The agency focuses on investments in 5 core sectors, together with enterprise and monetary companies; healthcare; industrial; retail, shopper and leisure; and know-how, media and telecom. After greater than 30 years devoted to worldwide investing, Introduction stays dedicated to partnering with administration groups to ship sustained income and earnings development for its portfolio corporations. For extra data, go to www.adventinternational.com.
About Aimbridge Hospitality
Aimbridge Hospitality is the nation’s largest impartial resort administration agency with a confirmed monitor file for delivering superior returns for its strategic companions in a wide range of markets and thru financial cycles. Aimbridge supplies resort administration companies, accounting, income administration, and a full suite of companies. Based mostly in Dallas, Texas, Aimbridge presently manages roughly 800 resorts with greater than 100,000 rooms throughout america, Canada and the Caribbean. For extra data, go to www.aimbridgehospitality.com.
About Lee Fairness Companions
Lee Fairness Companions is a New York-based personal fairness agency that companions with profitable administration groups to construct corporations with robust development potential. Lee Fairness targets fairness investments of $50 million to $100 million in middle-market management buyouts and development capital financings in corporations with enterprise values of $100 million to $500 million that are situated primarily in america. The agency invests in a spread of industries the place the workforce has deep relationships developed over a long time, together with monetary, healthcare and enterprise companies and shopper. For extra data, go to www.leeequity.com.
About Basic Atlantic
Basic Atlantic is a number one world development fairness agency offering capital and strategic assist for development corporations. Established in 1980, Basic Atlantic combines a collaborative world method, sector particular experience, a long-term funding horizon and a deep understanding of development drivers to accomplice with nice entrepreneurs and administration groups to construct distinctive companies worldwide. Basic Atlantic has greater than 150 funding professionals primarily based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico Metropolis, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, and Singapore. For extra data, go to www.generalatlantic.com.