6th September 2021
Habicus Group acquire long-standing competitor The Apartment Service
Habicus Group, the parent company of serviced apartment agent SilverDoor, has acquired long-standing competitor The Apartment Service. James Curtis and Gregg Pendlington of Dow Schofield Watts Corporate Finance advised Habicus Group on the deal. The acquisition will bring together two of the largest global serviced apartment agents.
During the pandemic, the Habicus Group has continued to increase its market share, and this acquisition provides the group with further opportunity to continue to grow in a post-pandemic world. This latest acquisition will grow the Habicus Group to now incorporate teams in London, Lancaster, Frankfurt, Madrid, Singapore, Denver, Washington, DC and Hyderabad.
“This acquisition creates by far the largest independent serviced apartment agent in the world,” said Stuart Winstone (CEO, Habicus Group). “The Apartment Service was one of our closest rivals. This is a significant deal for our sector.”
The deal bolsters SilverDoor’s clientbase but also expands its supplier network – from around 1,700 to more than 2,000 once crossover is accounted for – and plugs some geographical gaps in its operations.
James Curtis of Dow Schofield Watts said, “It was a pleasure to have supported Habicus Group with this acquisition, but also in being able to assist in structuring a fair deal for both sides, that also allows the enlarged Group to continue to progress with it’s wider strategy.”
Cripps Pemberton Greenish’s Corporate Team advised on all legal aspects of the transaction.