9 October 2014
Press ReleasesJames Cowper Kreston's Corporate Finance team has successfully advised Lamington on its acquisition of London-based Saba Hotels Limited, providing due diligence services.
Located in London, Lamington provides short and long-term serviced apartments across West London, focusing on luxury accommodation for leisure and corporate guests. Incorporated in 1967, the company has grown year-on-year. Saba Hotels is a family-run business providing accommodation in the centre of London.
The transaction involved the undertaking of financial due diligence of Saba, advising Lamington on all parts of the transaction as well as negotiating critical terms within the SPA. James Cowper Kreston’s Corporate Finance team managed the transaction, ensuring that both sides were updated on the progress of the assignment whilst meeting tight deadlines up until the day of completion.
Robert Godwin of Lamington said: “James Cowper Kreston provided a rounded and complete accountancy investigation into the targeted purchase company, and were able to advise conclusively on matters for further negotiation. Tom Appleby, our main contact, assisted with absolute professionalism throughout the process, and always made himself available at short notice during the vital final stages of completion. The company purchase was far more complicated than a straight freehold purchase, however the expertise at James Cowper Kreston helped us make the process smoother and more efficient.”
Nick Rogers, Partner and Head of Corporate Finance at James Cowper Kreston adds: “We are delighted to have advised Lamington on its acquisition of Saba Hotels. Having developed an enviable reputation in the residential market in West London, the acquisition provides a foundation for further expansion in the coming years. Operating as a combined unit, the two businesses will provide a comprehensive and reliable service to guests across London. We wish Lamington every success in the future.”
Nick Rogers
Partner
+44 (0)118 9590261
nrogers@jamescowper.co.uk
