Transactions

Petsky Prunier and its European Investment Banking Partner, Altium, Advise Guestline on its Majority Investment from The Riverside Company

April 21, 2016 (New York, NY) –Petsky Prunier and its European investment banking partner Altium acted as financial advisors to the shareholders of Guestline, a leading provider of cloud-based hospitality solutions, in securing a significant investment from The Riverside Company.

Based in Shrewsbury, United Kingdom, Guestline delivers a range of products covering all areas of hospitality and hotel management, with solutions that drive up occupancy, average room rate, and yield. The business has a broad customer base of independent hotels, hotel chains, student accommodation, and aparthotels and is a trusted partner for properties in 20 countries across four continents.

The transaction represents Petsky Prunier’s 28th transaction since January 2015 and its fourth travel-related transaction since 2013. This transaction also sees Altium build on its leading position in international technology advisory, having completed 32 technology transactions (worth in excess of £2.1bn) since the start of 2015.

Petsky Prunier and Altium executed a dual-track process for the shareholders of Guestline to approach both global investors and strategic parties. The deal was led by Seth Rosenfield (Petsky Prunier) and Adrian Reed (Altium).

Working with Scott on the deal for Riverside were vice presidents Tommy Seddon, Marcin Goszyk, and associate Alicia Wnorowski. Seddon also sourced the deal for Riverside.

Guestline received corporate finance advice from Petsky Prunier and Altium, legal advice from Pinsent Masons (Edward Stead and Andy Phillips), and tax advice from Grant Thornton (John Loebl and Matt Allen). PWC's transaction services team, led by Jonathan Cooper, Graham Watson, and Pete Stephenson, provided financial, tax, and technical due diligence on the deal, while commercial due diligence was provided by both PWC and Grant Thornton (Ven Balakrishnan).

"Adrian, Seth, and the entire team have been invaluable in how they have guided both management and the majority shareholders throughout the process. The expertise and commitment of the Altium and Petsky Prunier teams delivered the perfect result for all stakeholders – in Riverside we have found the right partner to take the business forward, and the deal represented an outstanding outcome”.
Phil Davidson, CEO, Guestline

“Guestline’s products are proven to generate revenue for customers seamlessly and easily. It is an exceptional platform for growth, as the company has strong expansion potential both in its home market and internationally. We are excited to partner with a top class management team to help deliver the next phase of growth.”
Martin Scott, Partner, The Riverside Company

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