Portobello Capital advances with BlueSea Hotels & Resorts continuation vehicle
Deal News | Nov 22, 2024 | Finance Community ES 2 - Corporate M&A
Portobello Capital has announced the successful closure of a continuation vehicle for its portfolio company, BlueSea Hotels & Resorts, a Spain-based hotel chain. The vehicle is structured to provide the necessary time and capital for continued development of BlueSea's hotel opportunities, focusing on increasing average daily rates. Global private markets investor Partners Group led the investment, alongside Neuberger Berman, Mercer, and Florestan. The capital raised will support specific Capex projects and potential acquisitions to accelerate BlueSea's strategic growth plan. BlueSea, acquired by Portobello in 2017, has more than tripled in size since then. DC Advisory provided secondary advisory and real estate expertise, assisting in structuring the continuation vehicle and identifying investors. The Spanish and London teams of DC Advisory were integral to the advisory process.
Sectors
- Private Equity
- Hospitality
- Financial Services
Geography
- Spain – BlueSea Hotels & Resorts is headquartered in Spain, and Portobello Capital is a Spanish private equity firm.
- Global – Partners Group, Neuberger Berman, and other investors are global entities with significant international presence.
Industry
- Private Equity – Portobello Capital and Partners Group are both involved as private equity firms in this investment.
- Hospitality – BlueSea Hotels & Resorts is a company operating within the hospitality sector.
- Financial Services – DC Advisory, involved in providing advisory services, operates in the financial services industry.
Financials
- Not disclosed – The actual financial terms and amount of capital raised for the continuation vehicle are not specified in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Portobello Capital | Private Equity Firm | Company | Spanish private equity firm managing the continuation vehicle for BlueSea Hotels. |
| BlueSea Hotels & Resorts | Portfolio Company | Company | A value-for-money hotel chain based in Spain and the focus of the continuation vehicle. |
| Partners Group | Lead Investor | Company | A global private markets investment firm leading the investment in BlueSea Hotels. |
| Neuberger Berman | Investor | Company | A global investment management firm participating in the funding. |
| Mercer | Investor | Company | Investment advisory firm participating in the investment. |
| Florestan | Investor | Company | Participating investor in the continuation vehicle. |
| DC Advisory | Financial Advisor | Company | Provided advisory services for structuring the continuation vehicle and identifying investors. |
| Borja Leria Ulecia | General Director | Person | Part of the Spanish team at DC Advisory working on the deal. |
| Diego Montealegre | Director | Person | Part of the Spanish team at DC Advisory working on the deal. |
| Paula Newnes Querejeta | Associate | Person | Part of the Spanish team at DC Advisory working on the deal. |
| Ignacio Carrera Trasobares | Associate | Person | Part of the Spanish team at DC Advisory working on the deal. |
| Michael Wieczorek | General Director | Person | Part of the London team at DC Advisory involved in the transaction. |
| Sabina Sammartino | General Director | Person | Part of the London team at DC Advisory involved in the transaction. |
| Robert Hayward | Vice President | Person | Part of the London team at DC Advisory involved in the transaction. |
| Mano Kovacs | Analyst | Person | Part of the London team at DC Advisory involved in the transaction. |