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Abernathy MacGregor Group represents Starwood Capital Group as it joins Blackstone Real Estate Partners to acquire Extended Stay America for $6B in cash.
Charlotte-based ESA is the leading player in the mid-priced category, with 650 hotels that operated at 74 percent capacity in 2020.
ESA “demonstrated resilience over the past year despite persistent challenges due to government lockdowns and travel restrictions,” Barry Sternlicht, Starwood CEO, said in a statement.
Starwood has more than $75B in assets under management. Travel and leisure is a key investment category for Blackstone, which helped launch ESA almost 20 years ago.
Abernathy MacGregor CEO Tom Johnson and managing director Dan Scorpio handle Starwood Capital.
Their firm is part of France-based Havas Group’s AMO network.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
Intelligent Group Ltd, a Hong Kong-based financial PR firm, has priced its initial public offering of 1.9M shares at $4, which is the low end of the $4 to $5 range.
Kekst CNC represents Grant Thornton as it sells a majority stake in its US arm to New Mountain Capital, which relies on Goldin Solutions, in what is billed as the largest PE investment in the accounting and advisory sector.
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