Hospitality sector software provider Guestline has attracted an unspecified “significant investment” from The Riverside Company.
The US private equity firm has entered a definitive agreement to invest in Shrewsbury-based Guestline and the transaction is expected to close imminently.
Guestline delivers a range of products covering all areas of hospitality and hotel management, with solutions that drive up occupancy, average room rate and yield.
The business has a broad customer base of independent hotels, hotel chains, student accommodation and aparthotels and is a trusted partner for properties in 20 countries across four continents.
Riverside partner, Martin Scott, said: “Guestline’s products are proven to seamlessly and easily generate revenue for customers.
“It is an exceptional platform for growth, as the company has strong expansion potential both in its home market and internationally. We are excited to partner with a top class management team to help deliver the next phase of growth.”
Specialist firm Altium acted as financial advisor to the shareholders of Guestline in securing the deal.
Guestline chief executive, Phil Davidson, said: “The expertise and commitment of the Altium team delivered the perfect result for all stakeholders – in Riverside we have found the right partner to take the business forward and the deal represented an outstanding outcome”.