Dominion Hospitality has acquired the Chapman Group, a leisure operator that owns and manages a portfolio of 28 hotels and pubs in the south of England, for an undisclosed sum.
The family-run business was launched in 1983 by Christopher and Delia Chapman. Some of the properties operate under the RelaxInnz brand of hotels, including the Globe and Crown in Yeovil, Somerset (pictured); the New Inn hotel in Gloucester; and the Old Crown Coaching Inn in Faringdon, Oxfordshire.
Dominion Hospitality is an affiliate of Stellex Capital Management, a private equity group that invests in middle market companies in North America and Europe.
Ted Kennedy, a former managing director of Whitbread's managed pub division who owns Pebble Hotels, comprising two hotels in West Sussex, has been appointed chairman of Dominion. He described the acquisition as an "exciting opportunity with a great collection of businesses". Billy Buchanan, chief executive of LT Management Services, which has been appointed to provide the front and back office support, said that with the right investment and resources, the portfolio represented a "significant growth opportunity" in the coming years.
Karthik Achar, partner of Stellex's European office, said: "We have evaluated a number of portfolios in the UK hospitality sector over the past 18 months and believe that the Chapman Group provides us with a solid platform for growth, given its strong market presence and team of managers."
Neil Morgan, managing director of pubs and restaurants at Christie & Co, who brokered the sale, added: "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."
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