Ropes & Gray Represents Advent International in its Acquisition of a Majority Stake in Aimbridge Hospitality
Ropes & Gray represented Advent International, one of the largest and most experienced global private equity investors, in its agreement to acquire a majority ownership interest in Aimbridge Hospitality from Lee Equity Partners and General Atlantic. The transaction, announced on Jan. 7, is expected to close by February.
Aimbridge, based in Dallas, Texas, is North America's leading third-party hotel operator and provides property management, asset management, development, renovation and consulting services to some of the most respected hotel brands in the industry, including Marriott, Hilton, Hyatt, IHG and Wyndham. Aimbridge’s portfolio includes approximately 800 upscale, independent and branded hotels with more than 100,000 rooms across the United States, Canada, and the Caribbean.
The Ropes & Gray team representing Advent was led by private equity partner Matthew Richards, finance partner Jay Kim, real estate partner Walter McCabe, tax partner Adam Greenwood, benefits partner Jennifer Rikoski and IP transactions partner Edward Black.