Hoist Group sells its Russian subsidiary to Management
An MBO agreement between Hoist Group and the management of the Russian entity was signed 30 June and the deal was closed the same day.
The new owners, Karl Norman and Anton Sirotin, have also entered in to a partnership programme with Hoist Group, which gives full exclusivity to the market with the products and SLA terms that Hoist Group develops and offers their international accounts.
Hoist Group founded their Russian subsidiary in 2005 and since then has offered its full range of products and product areas on the market. Over the years the business has developed and today we serve customers throughout the CIS based out of the Moscow office.
“To reach higher critical mass the business needs to adapt to and meet the local hotel requirements, and this is better developed locally. Combining this with the excellent products from Hoist Group, we will be the only sustainable hospitality provider in CIS”, says Anton Sirotin, the new General Director.
“I have been working in Hoist Russia from the start and know the guidelines and routines within Hoist Group. Maintaining the high standards we have in combination with having a stronger footprint outside of the international chains will help us be even better”, continues Karl Norman, Business Development Director.
“This divestment is perfectly in line with our strategy for this geographic region. The partnership programme will ensure we can deliver our framework agreements with international chains, including full SLA terms. Additionally, developing the business to better meet the local requirements ensures a long-term solution for our customers”says Malcolm Lindblom, Chief Executive Officer of Hoist Group.
For more information, please contact:
Malcolm Lindblom, Chief Executive Officer, Hoist Group: +46 (0)8 555 685 00
Anton Sirotin, General Director, Hoist Hospitality Partner: +7 (495) 909 90 23
Karl Norman, Business Development Director, Hoist Hospitality Partner: +7 (495) 909 90 23
About Hoist Group
Hoist Group is the complete hospitality partner for hotels, health care institutions and public operations. With more than 20 years of proven hospitality experience, Hoist Group is the market leader in innovative High Speed Internet Access, conference services, TV & content solutions, PMS and back-office software as well as other guest-facing amenities. Many hotel chains, flagship independent hotels and public hospitals have entrusted their IT to Hoist Group. Based in Sweden, the company has offices in a total of 18 countries in the EMEA region. Learn more about the company at www.hoistgroup.com.stage.triggerfish.se.