Hoist Group to be acquired by a consortium led by Advent International
Hoist Group Holding Intressenter AB (“Hoist Group”) announced today that its current shareholders have agreed a bid from a consortium led by Advent International (“Advent”) to acquire 100% of its shares.
The new investors will partner with Hoist to further build on the company’s achievements and leadership within the hospitality sector, with the ambition to create the European champion for hospitality software and commerce-enabling solutions.
Alfonso Tasso, CEO of Hoist Group, commented: “With Advent by our side we will be able to step up a gear and diversify our offering further and faster; hotels will benefit immensely from our expansion. We are very excited about the future, particularly around opportunities to provide additional data products that will help our industry grow faster”.
The investment group led by Advent will be supporting Hoist Group to accelerate investments in product innovation, customer success and commercial growth, allowing it to further strengthen its leadership position in the EMEA hospitality sector.
The sale is subject to standard regulatory approval, among other things, and is expected to be completed in the second half of 2021. In France, the agreement is subject to completion of French works council consultations. Hoist Group’s outstanding bonds (ISIN: SE0015811120) are planned to be redeemed in conjunction with the completion of the transaction.
Note: This information is made public within the framework of the EU Market Abuse Regulation. The press release was submitted for publication by the contact person below, at 08:00 CET on June 2nd 2021.
For further information please contact:
Magnus Lindholm, CFO, Hoist Group
About Hoist Group
Hoist Group provides technology solutions to hotels, enabling them to manage coherent end-to-end digital journeys for their guests. Hoist Group optimizes guest services by correlating and analyzing the data that comes from its innovative Property Management & Booking Software, Managed IP Networks, Internet and TV Content as well as from many other digital touchpoints. Headquartered in Stockholm with 20 offices across EMEA, Hoist Group has nearly 500 dedicated staff serving over 8,000 unique hotels.
About Advent International
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 375 private equity investments across 42 countries, and as of December 31, 2020, had €62 billion ($72 billion) in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 240 private equity investment professionals across North America, Europe, Latin America and Asia. After 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.