News

Accent Equity successfully divests Hoist Group

Stockholm 2 June, 2021

  • Accent Equity and other shareholders have agreed to divest Hoist Group to an entity backed by a consortium led by Advent International
  • Hoist Group has over the past years evolved from a Nordic hotel supplier into the EMEA market leader within hospitality software and technology
  • As a result of several strategic and operational improvements, including five important add-on acquisitions and development of proprietary software and technology, both turnover and EBITDA have tripled during Accent Equity’s ownership period

The investment fund Accent Equity 2008 L.P. (“Accent Equity”) and other shareholders have signed an agreement to divest Hoist Group to an entity backed by a consortium led by Advent International, one of the largest and most experienced global private equity investors.

As a result of a fruitful cooperation with the company’s founder, Malcolm Lindblom, and the highly capable management team, significant value enhancement activities have been carried out during the course of Accent Equity’s ownership period. Organic growth, operational improvements and several add-on acquisitions – including Locatel, Swisscom Hospitality, Paragon, Hotel Engine and Acentic – have contributed to Hoist Group’s transformation from a Nordic hotel supplier of mainly TVs into the market leader in EMEA within hospitality software and technology. Strategic development of proprietary software, that is crucial for hoteliers’ day-to-day operations and is integrated into the company’s technology solutions, has enabled Hoist Group to establish itself as the go-to partner for both independent hotels and international chains. Since a large part of the business is based on longstanding customer relationships that provide recurring revenue, the company managed to increase earnings also in 2020 despite being a very challenging year for the hospitality sector. All strategic and operational improvements during Accent Equity’s holding period have resulted in tripled turnover and EBITDA respectively.

“Hoist Group is a good example of an investment in line with Accent Equity’s strategy, where a close partnership with a driven entrepreneur has resulted in an extraordinary journey and the evolution of the company into an international success story. We are pleased to have found a new owner of Hoist Group that can help the company grow even further”, says Niklas Sloutski, CEO and Partner of Accent Equity Partners AB, investment advisor to Accent Equity.

“I and the rest of the management team are thankful for the relentless support from Accent Equity, which has contributed to Hoist Group’s fantastic development over the last ten years. We now look forward to the next phase in the company’s development together with Advent International”, says Alfonso Tasso, CEO of Hoist Group.

Closing of the transaction is subject to customary regulatory approval, among other things, and is expected to be completed in the second half of 2021. With respect to Hoist Group’s French entity, the closing is subject to completion of the relevant works council consultations.

Accent Equity has been advised by Clearwater International and Andulf.

For more information, please contact:
Niklas Sloutski, CEO and Partner of Accent Equity Partners, niklas.sloutski@accentequity.se

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 as well as from many other digital touchpoints. Headquartered in Stockholm with 20 offices across EMEA, Hoist Group has 500 dedicated staff serving over 8,000 unique customers.
www.hoistgroup.com

About Accent Equity
Accent Equity has since 1994 invested in private Nordic companies where a new partner or owner can serve as a catalyst. Our ambition is to invest in and develop the companies to be Nordic, European or Global leaders through a professional, hands-on and long-term oriented approach that results in superior and sustainable returns. Accent Equity Partners is the investment advisor to Accent Equity 2008.
www.accentequity.se
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2021 Accent Equity 2008