M&A Deal Summary

Aimbridge Hospitality Acquires Interstate Hotels & Resorts

On August 29, 2019, Aimbridge Hospitality acquired leisure company Interstate Hotels & Resorts from Kohlberg & Company

Acquisition Highlights
  • This is Aimbridge Hospitality’s 1st transaction in the Leisure sector.
  • This is Aimbridge Hospitality’s 1st transaction in the United States.
  • This is Aimbridge Hospitality’s 1st transaction in Virginia.

M&A Deal Summary
Date 2019-08-29
Target Interstate Hotels & Resorts
Sector Leisure
Buyer(s) Aimbridge Hospitality
Sellers(s) Kohlberg & Company
Deal Type Add-on Acquisition
Advisor(s) Goldman Sachs
Moelis & Co. (Financial)
Paul, Weiss, Rifkind, Wharton & Garrison (Legal)

Target

Interstate Hotels & Resorts

Arlington, Virginia, United States
Interstate Hotels & Resorts, Inc. is a global hotel management company, operating branded full- and select-service hotels and resorts, convention centers and independent hotels worldwide. Currently, Interstate and its affiliates manage 425 hotels with nearly 75,000 rooms around the globe. In addition, Interstate has executed agreements to manage 40 hotels with nearly 5,200 rooms under development or construction.

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Buyer(S) 1

Buyer

Aimbridge Hospitality

Plano, Texas, United States
Category Company
Founded 2003
Sector Business Services
DESCRIPTION

Aimbridge Hospitality is an independent hotel investment and management firm. Aimbridge Hospitality offers an unrivaled track record of creating and maximizing asset value and holds an enviable position as an exclusive management company approved to operate all brands within the Marriott, Hilton, Hyatt, Starwood, Wyndham, and InterContinental systems as well as their respective newly launched soft brands. Aimbridge Hospitality was founded in 2003 and is based in Plano, Texas.

DEAL STATS #
Overall 1 of 2
Sector (Leisure) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (Virginia) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-02 Grupo Hotelero Prisma

Mexico City, Mexico

Grupo Hotelero Prisma is an operator of international multi-brand hotels with a portfolio of 42 properties with over 7,500 rooms. Some of the brands operated by Grupo Hotelero Prisma include JW Marriott, The Westin, Marriott, Crowne Plaza, Holiday Inn, Hampton by Hilton, and Wyndham Garden, among others. Grupo Hotelero Prisma is based in Mexico City.

Buy -

Seller(S) 1

SELLER

Kohlberg & Company

Mount Kisco, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 11.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kohlberg & Company is a private equity firm which acquires middle-market companies with consistent cash flow, and underperforming companies with operational deficiencies. Kohlberg looks to commit $100 to $500 million of equity capital in opportunities valued from $200 million to $2 billion. Kohlberg generally looks for opportunities in the manufacturing and service sectors, however the Firm will also selectively consider businesses in food and healthcare. Kohlberg tends not to consider technology or communications companies. Kohlberg & Company was formed in 1987 and has offices in Mt. Kisco, New York.

DEAL STATS #
Overall 43 of 47
Sector (Leisure) 2 of 2
Type (Add-on Acquisition) 17 of 18
State (Virginia) 2 of 2
Country (United States) 42 of 46
Year (2019) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-31 Franklin Energy

Port Washington, Wisconsin, United States

Franklin Energy offers a seamless customer experience through energy efficiency and demand response program management services, as well as product fulfillment. Franklin Energy has a nationwide footprint and will leverage its 30 years of expertise as it continues delivering integrated customer engagement solutions alongside its implementation services and product solutions. Franklin Energy was founded in 1994 and is based in Port Washington, Wisconsin.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-29 GPRS

Toledo, Ohio, United States

GPRS is a provider of private utility locating and concrete scanning services to utilities, contractors, engineering firms, and environmental consultants in every major market in the United States. GPRS was founded in 2001 and is based in Toledo, Ohio.

Buy -
Mergr

Product

Company

Legal