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Nexxus Capital’s Grupo Hotelero Santa Fe holds IPO

Nexxus Capital, through Nexxus Capital Private Equity Fund III, has partnered with Grupo Chartwell and Walton Street Capital to form Grupo Hotelero Santa Fe, a platform to operate and acquire hotels in Mexico.

As of 30 June 2014, Grupo Hotelero Santa Fe’s operating portfolio includes 13 hotels of which six are its own, four are owned by third parties and three are in development stage for a total of 3,292 current rooms plus 443 rooms under development.
 
The company’s hotel platform includes the brand Krystal consisting of four hotel sub-brands: Krystal Grand (5 star luxury), Krystal Resorts (5 stars), Krystal Beach (4 stars) and Krystal Urban (4 stars).
 
On 12 September, the company placed its shares on the Mexican Stock Exchange at a price of MXD10.00 per share, equivalent to USD0.7568. The aggregate value of the offering was MXD750 million or approximately USD56.76 million.
 
One hundred per cent of the offering was primary, after which Nexxus III has a 34.45 per cent ownership and is the largest investor in the company. At the offering price of MXD10.00 per share, Nexxus III’s unrealized gross multiple of cost is 1.75x.

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