success stories

Overview

Acquisition and Refinancing of Generator Hostels brings LFN firms together

Queensgate Investments LLP, a UK-based real estate private equity firm, completed the purchase of Generator, a lifestyle accommodation group and Europe’s fastest growing hostel brand with a number of assets across major European cities. Some months later the group was refinanced with a new umbrella loan facility. The deal size was reported at €450m.

The deal was managed by Brown Rudnick LLP in the UK, with LFN member firms Haver & Mailänder (Germany), Wieringa Advocaten (the Netherlands), Thomas De Carranza Abogados (Spain), Cocuzza & Associati (Italy) and Mazanti-Andersen Korsø Jensen (Denmark), Fine Law (Romania), as well as Brown Rudnick’s own US offices, all contributing to the multi-jurisdictional project. The firms conducted diligence on the local assets, managed local commercial and personnel matters and assisted

with a complex refinancing exercise. Later on, Baily Homan Smyth McVeigh Solicitors (Ireland) assisted in restructuring the financing and security arrangements for the group in Ireland.

This deal is a fantastic example of the LFN’s ability to work collectively on cross-border transactions in a high-profile corporate matter. The various firms continue to assist Generator on matters as required from time to time.

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The Law Firm Network is a network of independent law firms founded in 1989. Our members are not affiliated in the joint practice of law; each member firm is an independent law firm and renders professional services on an individual and separate basis.