Nikko Principal Investments Ltd (NPIL), has sold the four star hotel chain, Menzies Hotels Group Ltd, to property investors aAIM and R20, for £180m. This exit combined with the sale of the Salcombe Hotel in the summer of this year, takes the total exit value to in excess of £190m. Under NPIL’s ownership Menzies acquired the Menzies Glasgow Hotel in May 2005 and the Menzies Cambridge Hotel in January 2006. In addition NPIL supported a substantial investment in the Welcombe Hotel and Spa, which underwent a major refurbishment, including the creation of a luxury Spa and health club.
Danish VC Heartcore Capital, UVC Partners and existing investor Picus Capital also take part
Deal is an extension of the $4.1m series-A funding round led by Blossom Capital in October 2019
Fresh capital will help the provider of cloud access services expand in western Europe
DBay has also negotiated a new revolving credit facility for the transport and logistics company