Pai Partners €721 million acquisition of Groupe B&B Hotels

Overview:

• French private equity company Pai Partners has completed the acquisition of hotel group B&B Hotels from the Carlyle Group and Montefiore Investment. 
• The value of the deal is in the vicinity of €721 million, valuing the company at €800 million. 
• The deal is the company's fourth leveraged buy out, and was one of the largest in the French market of the 2015-2016 period.
• The Brittany-based group owns over 340 establishments, mainly in France and Europe, and is planning significant international growth with a target of 500 hotels in Europe by 2020.
• Equity for the transaction was provided by PAI Europe VI. 
• Senior financing for the transaction took the form of a €450 million loan extended to Pai by BNP Paribas, Crédit Agricole CIB, Crédit Suisse Natixis and Société Générale. 

John Crabb - Journalist