H.I.G. Capital Enters into Agreement to Sell DoubleTree by Hilton Hotel in London
H.I.G. Capital, LLC ("H.I.G."), a leading global private equity and alternative asset investment firm with $20 billion of equity capital under management, announced today that it has agreed to sell the 378 bedroom DoubleTree by Hilton Hotel London – Docklands Riverside in London to a Chinese investor group. Terms were not disclosed.
H.I.G. purchased the hotel in early 2014, with a view to implementing a long-term refurbishment program that included upgrading guest rooms and common areas and repositioning the property. The business plan also included the rebranding of the asset which is now operated as a DoubleTree by Hilton Hotel.
Riccardo Dallolio, Managing Director at H.I.G. in London commented: “This transaction is a great example of H.I.G.’s value-added approach and has resulted in an outstanding outcome for H.I.G and its investors, particularly following the EU referendum.”
Sanjoy Chattopadhyay Principal at H.I.G. in London added: “Through a series of targeted asset management initiatives, we have successfully transformed a complex property into a refreshed and institutional-quality hotel. The Doubletree Docklands Riverside is now considered a leader in its category.”
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $20 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris and Rio de Janeiro, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
1. H.I.G. Capital’s equity funds invest in management buyouts, recapitalisations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
2. H.I.G. Capital’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
Since its founding in 1993, H.I.G. has invested in and managed more than 200 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of €22billion. For more information, please refer to the H.I.G. website at www.higcapital.com .
* Based on total capital commitments managed by H.I.G. Capital and affiliates.
Riccardo Dallolio, P +44 (0) 207 318 5700
Sanjoy Chattopadhyay, P +44 (0) 207 318 5700
F +44 (0) 207 318 5749
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