Clearwater International advises Accent Equity on the sale of Hoist Group to Advent International
Clearwater International has advised Accent Equity on its sale of Hoist Group, a provider of technology solutions to hotels, enabling them to manage coherent end-to-end digital journeys for their guests, to Advent International.
Hoist Group optimises guest services by correlating and analysing the data that comes from its innovative property management and booking software, managed IP networks, internet and TV content as well as from many other digital touchpoints. Headquartered in Stockholm with 20 offices across EMEA, Hoist Group has nearly 500 dedicated staff serving over 8,000 unique hotels.
A consortium led by Advent International acquires 100% of the shares in Hoist Group and the new investors will partner with Hoist to further build on the company’s achievements and leadership within the hospitality sector, with the ambition to create the European champion for hospitality software and commerce-enabling solutions. Advent will be supporting Hoist Group in order to accelerate investments in product innovation, customer success and commercial growth, allowing it to further strengthen its leadership position in the EMEA hospitality sector.
Closing of the transaction is subject to customary regulatory approval 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.