International law firm Simmons & Simmons has advised the shareholders of the Fletcher Hotel group on the sale of a majority stake to Egeria, a Dutch investment company. Fletcher Hotels is the largest hotel chain in the Netherlands, with 103 locations.
NIBC and Xead are selling their shares and the Fletcher management will remain with the shareholders. With Egeria's hands-on involvement and experience in international expansion, Fletcher Hotels will be able to enter a new phase of growth, building on a sound and stable basis.
The Simmons & Simmons cross-border team was led by corporate M&A partner Rob Hendriks in Amsterdam, supported by the Brussels competition team.
Commenting on the deal, corporate M&A partner Rob Hendriks said: “It was a privilege for the Simmons team to advise on this multi-faceted and high-profile transaction, the latest piece of work we have undertaken on behalf of Fletcher Hotels. Over the past few years we have seen the Fletcher Hotel Group grow to become the largest hotel chain in the Netherlands. With Egeria, they have an enterprising shareholder on their side, who will help them further realise their growth ambitions. As a firm, we demonstrated seamless cross-border collaboration, providing Fletcher Hotels with our full service M&A offering in Amsterdam, and competition advice from the Simmons team in Brussels.”.
Rob Hermans, CEO Fletcher Hotels commented: “We are grateful for the support provided by Simmons & Simmons on this milestone transaction which enables us to enter a new phase of growth. In the past year alone, Fletcher has grown by four hotels and we are set to continue on this ambitious track.”.
The transaction is subject to approval by the ACM.