Christie & Co brokers acquisition of hotel and pub

RNS Number : 1902O

Christie Group PLC

03 November 2016

 

3 November 2016

Christie Group plc
("Christie Group" or the "Company")

Christie & Co brokers acquisition of hotel and pub group

Christie Group plc (CTG.L), the leading provider of Professional Business Services and Stock & Inventory Systems & Services to the leisure, retail and care markets, is pleased to announce that Christie & Co, its specialist provider of agency and advisory services, has successfully brokered the acquisition of the Chapman Group by Dominion Hospitality.

Dominion Hospitality is an affiliate of Stellex Capital Management, a private equity group that invests in middle market companies in North America and Europe. The acquisition is focused on providing growth capital and resources to expand Dominion's presence in the U.K.

The portfolio of 28 hotels and pubs in the south of England is being purchased from Chris and Delia Chapman who have built a strong business and have worked closely with Stellex for some time over the terms of the transaction.

Stellex is partnering with two industry veterans to assist with its plans: Ted Kennedy, who owns Pebble Hotels and was previously an MD in Whitbread's managed pub division, and Billy Buchanan, chief executive of LT Management Services.

Neil Morgan, Managing Director, Pubs & Restaurants at Christie & Co commented, "Since entering the pub trade in 1977, the Chapman family has continually sought to acquire sites which have been neglected and are then redeveloped to create presentable and profitable businesses.

"Over the last 15 years, we have been advising and working with the Chapman Group to create an estate that was previously highly focused on wet-led outlets, some with late licences, has been shifted to create a more balanced portfolio with letting accommodation becoming a major factor. Since 2001 all new acquisitions have had hotel bedrooms and facilities have also been added to those where space permitted."

Enquiries:

Christie Group plc

Neil Morgan	020 7227 0778
Managing Director, Pubs & Restaurants, Christie & Co
David Rugg	020 7227 0707
Chief Executive
Dan Prickett	020 7227 0700
Chief Financial Officer

Panmure Gordon (UK) Limited:

Dominic Morley / Charles Leigh-Pemberton                                                                        020 7886 2906

Nominated Adviser & Broker

Notes to Editors:

Christie Group plc, quoted on AIM, is a leading professional business services group with 46 offices across the UK, Europe and Canada, catering to its specialist markets in the leisure, retail and care sectors.

Christie Group operates in two complementary business divisions: Professional Business Services (PBS) and Stock & Inventory Systems & Services (SISS). These divisions trade under the brand names: PBS - Christie & Co, Pinders, Christie Finance and Christie Insurance: SISS - Orridge, Venners and Vennersys.

Tracing its origins back to 1846, the Group has a long established reputation for offering essential services to client companies in agency, valuation services, investment, consultancy, project management, multi-functional trading systems and online ticketing services, stock audit and inventory management. The diversity of these services provides a natural balance to the Group's core agency business.

For more information, please go to www.christiegroup.com.

 

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