M&A Deal Summary

Principal Hotels Acquires Hayley Conference Centres

On June 14, 2007, Principal Hotels acquired business services company Hayley Conference Centres from 3i Private Equity for 358M GBP

Acquisition Highlights
  • This is Principal Hotels’ 1st transaction in the Business Services sector.
  • This is Principal Hotels’ 0th largest (disclosed) transaction.
  • This is Principal Hotels’ 2nd transaction in the United Kingdom.

M&A Deal Summary
Date 2007-06-14
Target Hayley Conference Centres
Sector Business Services
Buyer(s) Principal Hotels
Sellers(s) 3i Private Equity
Deal Type Add-on Acquisition
Deal Value 358M GBP

Target

Hayley Conference Centres

Milton Keynes, United Kingdom
Hayley is a premier-branded, dedicated conference centre business in the UK. The business serves a blue chip client base seeking specialised off-site training and meeting room space with residential facilities. Typically built around prestigious country house frontages, each site contains about 30 conference rooms and 150 ensuite delegate bedrooms, as well as leisure facilities in landscaped country settings. The company employs over 800 staff and currently has eight sites in the English Midlands, North West and home counties. Hayley is expanding faster than any of its competitors, achieving a CAGR of 17% per annum over the past five years in the UK.

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Buyer(S) 1

Buyer

Principal Hotels

United Kingdom
Category Company
Sector Leisure
DESCRIPTION

Principal Hotels was focused on the 4-star business and conference market and was made up of 17 hotels, 14 in the UK, 2 in Copenhagen and 1 in Amsterdam. During that time the portfolio had been repositioned through a programme of disposals, selective acquisitions and capital investment.

DEAL STATS #
Overall 2 of 2
Sector (Business Services) 1 of 1
Type (Add-on Acquisition) 2 of 2
Country (United Kingdom) 2 of 2
Year (2007) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-07 Hawkstone Park Hotel

Shrewsbury, United Kingdom

Hawkstone Park Hotel is a privately held company operates a hotel and banquet facilities and park.

Buy -

Seller(S) 1

SELLER

3i Private Equity

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1945
PE ASSETS 16.7B GBP
Size Mega
Type Sector Agnostic
DESCRIPTION

3i Private Equity is the private equity arm of 3i Group, a publicly held, global investment firm focused on private equity and infrastructure investing. 3i Private Equity generally targets buyout and growth capital financings and looks for opportunities across Europe, North America, and Asia. The Firm's targeted transaction range is €100 to €500 million. Industries of interest include business services, healthcare, consumer, media, oil/gas & power, technology, and financial services. 3i Group was originally formed in 1945 and is based in London.

DEAL STATS #
Overall 72 of 194
Sector (Business Services) 9 of 17
Type (Add-on Acquisition) 23 of 61
Country (United Kingdom) 33 of 64
Year (2007) 14 of 26
Size (of disclosed) 20 of 78
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-12 Eltel

Bromma, Sweden

Eltel is a provider of technical services for the critical infrastructure networks – Infranets – of our society when it comes to power, communication and transportation. Eltel provides a broad and integrated range of services, spanning from maintenance and upgrade services to project deliveries. Eltel was founded in 2001 and is headquartered in Bromma, Sweden.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-19 Inspecta Group

Espoo, Finland

Inspecta Group is the provider of testing, inspection and certification (TIC) services in the Nordic region, with more than 1,000 staff across Sweden, Finland and the Baltic states.

Buy €243M
Mergr

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