Kian Capital Transaction Announcement – Spire Hospitality
December 2015: Kian Capital is pleased to announce that it has invested $9.9 million of senior secured debt and equity in Spire Hospitality (“Spire” or the “Company”) to finance the Company’s growth initiatives. Spire Hospitality, based in Deerfield, Illinois, is a leading third-party hospitality operator with more than 5,870 keys under management across 20 hotels operating under well-known brands such as Marriott International, Hilton Hotels & Resorts, Starwood Hotels & Resorts, and InterContinental Hotels Group.
Bill DeForrest, President and CEO of Spire, said “Kian’s partnership approach and growth orientation was very appealing to us. They were diligent and thorough in understanding our business, and we are excited that their capital has positioned Spire to take advantage of numerous growth initiatives in 2016 and beyond.”
Kevin McCarthy, Partner at Kian Capital, said “Bill DeForrest and his team are industry veterans with a demonstrated track record of successfully operating complex, full-service hotels. Our investment in Spire is aligned with our strategy of partnering with seasoned management teams capable of driving growth and long-term value.” Marc Sanchez, Vice President at Kian Capital, added “Spire’s full service management and operational capabilities, combined with its customer-first approach, distinguishes Spire in the marketplace and positions the Company for sustained growth.”
More information about Spire can be found by visiting www.spirehotels.com.
About Kian Capital
With offices in Atlanta, GA and Charlotte, NC, Kian Capital is a licensed Small Business Investment Company ("SBIC") with $150 million of capital under management. Kian makes mezzanine debt and equity investments in leading lower middle-market companies across a broad range of industries, typically providing between $5 million and $15 million of capital per transaction. We partner with management teams, independent sponsors and private equity firms to build and grow successful, high-quality businesses. Our team has deep expertise across the capital structure, including control private equity, mezzanine debt and leveraged senior debt, which enables us to be flexible, value-added partners to help support the long-term objectives of business owners.