Livingstone’s Media & Technology team advised the owners of Hoist Group on its addition of Sjätte AP-fonden as a new equity owner in the company through its SEK 100 million investment in the firm. In close cooperation with Accent Equity and the other owners, Livingstone evaluated a broad spectrum of potential investors and supported Hoist Group throughout the process.
Accent Equity engaged Livingstone to advise on alternatives for bringing in additional owners in order to secure Hoist Group’s continued growth opportunities and international consolidation of the industry. The support of Sjätte AP-fonden will facilitate the company’s growth plan, and it also signifies a first step in the journey towards a potential public listing of Hoist Group.
Hoist Group is a one-stop technology partner and system supplier for the hospitality industry throughout Europe, the Middle East, and Africa (EMEA). The company has evolved to become a software and data-driven specialist in booking systems and hotel management. Aside from Sjätte AP-fonden, Hoist Group’s owners include the PE fund Accent Equity 2008 and the company’s founder, Malcolm Lindblom.
Sjätte AP-fonden is a specialist fund part of the Swedish national pension system. It invests in unlisted companies, both directly and indirectly through funds, and has more than SEK 30 billion under management. Sjätte AP-fonden’s mission is to generate a long-term high return with adequate risk diversification.
“We see Sjätte AP-fonden as an ideal partner for Hoist Group that will power its continued expansion and contribute to a potential public listing. Hoist is a true industry leader and drives the digital transformation of the hospitality industry through software and related services. It will be incredibly exciting to follow the company on its journey,” says Thomas Karlsson, Partner at Livingstone.
The completion of this transaction reinforces Livingstone’s credentials in the travel technology space following the sale of Atcore to Inflexion and JacTravel’s acquisition of TotalStay Group.
“Companies like Hoist Group have an ideal position as they offer what the hospitality industry needs the most – products and services for digitalization. Hoists’ ability to deliver turnkey solutions gives them a huge competitive advantage and makes them a leader in the industry. At the moment the segment is made up of many small players, so we definitely see potential for consolidation here,” says Philip Golbraikh, Associate Director at Livingstone.
Livingstone was the exclusive financial advisor to the owners of Hoist Group during the sales process.