Munich — A team led by M&A partner Boris Dürr has advised the private equity funds advised by AUCTUS Capital Partners AG on the acquisition of GS Star Group. In the course of the transaction, the two previous managing directors of GS Star GmbH, Andreas Erben and Heiko Grote, also acquired a stake in the newly established Gorgeous Smiling Hotels Holding GmbH by way of a reverse shareholding and will continue to manage the group’s business.
The GS Star Group operates hotels throughout Germany as well as in Austria and the Netherlands under the Hampton by Hilton, Holiday Inn, Holiday Inn Express and Super 8 brands and under its own ANA Art Hotels brand. In addition, Gorgeous Smiling GmbH, a subsidiary of GS Star GmbH, acts as a service provider in the areas of marketing, yield management and purchasing services for third-party hotels not owned by the GS Star Group. Here, solutions are offered for the operation of hotels as well as for hotel real estate. In total, the current hotel portfolio of the GS Star Group comprises over 50 hotels.
AUCTUS is one of the leading private equity investors in the German-speaking region. One focus of AUCTUS is the implementation of industry concepts in consolidation markets by means of a buy & build strategy. Such a concept also underlies AUCTUS’ investment in the GS Star Group. For the future, GS Star Group together with AUCTUS plans to consolidate the operator market of hotels. To this end, further hotels and hotel operating companies are to be acquired and the company’s own hotel real estate division expanded. Expansion into Italy and Spain is also planned.
The financing, on which Heuking Kühn Lüer Wojtek also advised, was provided in the form of a unitranche by IDInvest Partners.
On the part of Heuking Kühn Lüer Wojtek, the transaction was lead-managed by Munich partner Boris Dürr. Boris Dürr’s team regularly advises funds advised by AUCTUS on transactions.
Advisors to AUCTUS (transaction and financing): Heuking Kühn Lüer Wojtek
Boris Dürr (Lead, M&A), Daniela Szczesny (Corporate/M&A), Dr. Arnold Büssemaker (Financing), Christian Schild, LL.M., (Corporate/M&A), Ricarda Marschall, LL.M. (Corporate/M&A), Steffen Wilberg (Real Estate), Dr. Philip Wenninger (Labor Law), all Munich, Astrid Luedtke (Trademark), Düsseldorf