H.I.G. Capital affiliate Bayside Capital purchases Hilton Hotel from Pandox AB

By Nicel Jane Avellana

Feb 26, 2014 09:13 AM EST

Bayside Capital acquired the Hilton Hotel in London Docklands in the UK, a statement about the funding said. Financial terms of the transaction were not disclosed.

The credit affiliate of H.I.G. Capital purchased the 378-room hotel from Pandox AB. A global private equity firm, H.I.G. has been actively looking for investment opportunities in European real estate for the past 12 months. It has already bought several assets in the UK, Spain and the Netherlands.

Bayside Capital Managing Director Ahmed Hamdani said in the statement, "We are thrilled with this acquisition and see significant potential to improve this asset through additional investment. We are very excited about the opportunities in the European hotel market in general and this transaction demonstrates H.I.G.'s ability to execute on complex operational assets. We are committed to growing our European Real Estate business further."

Aside from real estate, Bayside Capital actively invests in other industries. It looks for opportunities in business services, manufacturing, retail, healthcare, specialty finance and food or agriculture. The investment firm, which focuses on middle market firms, has about $4.5 billion under management. It operates from thirteen offices spread out in the US and Europe and has 250 investment professionals in its team, the statement said.

Miami-based H.I.G. Capital has over $13 billion of equity capital under management. Founded in 1993, its specialty lies in giving funding to small and medium-sized firms that have high growth potential. It also makes investments in management-led buyout and recapitalizes profitable and well-run businesses in the manufacturing and service industries. Since it was established, it has already backed over 200 firms around the world and has a notable history of giving value to its partners and investors. There are over 80 firms in H.I.G. Capital's current portfolio whose combined sales reach over €22 billion. The private equity firm also has offices in Atlanta, Boston, Chicago, Dallas, New York and San Francisco in the US and other international cities, the statement said.

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