Apple Leisure Group Tuesday announced that KKR and an affiliate of KSL Capital Partners have entered into a definitive agreement to acquire the company from Bain Capital Private Equity. Financial terms of the transaction were not disclosed.
Apple Leisure Group is North America's hospitality company.
Alex Zozaya, CEO of Apple Leisure Group said, "We are pleased to be partnering with KKR and KSL for our next phase of growth... We are extremely appreciative of Bain Capital Private Equity's partnership and support in executing our growth mission and helping us strengthen our leadership position over the past four years."
The transaction is expected to close during the first quarter of 2017. KKR's investment is being made principally from its eleventh Americas Private Equity investment fund.
Credit Suisse and Kirkland & Ellis LLP served as advisors to Bain Capital Private Equity. Simpson Thacher & Bartlett LLP and Dentons served as advisors to KKR and KSL.
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