Fusion & Acquisition

🚀 Pangea Aerospace, a European startup, raised €23 million in a Series A funding round led by Hyperion Fund, with support from existing investors CDTI Invierte and Primo Space. Founded in 2018, the Toulouse and Barcelona-based company specializes in reusable propulsion systems, aiming to reduce costs for launchers, satellites, and orbital transfer vehicles using sustainable fuels. The infusion of capital aligns with Europe's aspirations for aerospace sovereignty, integrating with ESA programs and competing in a market where 4-5 satellites are launched daily. Currently, over 10,000 satellites are in orbit, with the US (52%) and China (30%) leading as of 2023. An additional 2,500-3,000 satellites are expected by 2025.

💰 Three investment funds – Ksl Capital, Blackstone, and Starwood Capital – are vying to acquire Italian hotel group Gruppo Una for 1 billion euros. Gruppo Una, a merger of Atahotels and UNA Hotels & Resorts, formed in 2016, comprises 55 properties. Preliminary offers have been submitted to Goldman Sachs as of March 13, 2025, with final proposals expected by the end of the month. Starwood Capital, from Miami, manages $115 billion in assets (as of 2014).

💤 During the Journée du Sommeil, B&B HOTELS and OpinionWay revealed sleep habits of French people: 27% of North-East residents wake up before 7am; 52% of 18-24-year-olds sleep until at least 10am on non-working days; 76% of women vs 67% of men sleep with multiple pillows; 70% sleep on their side (38% right, 32% left), while 23% of young adults prefer sleeping on their stomach; 19% of men vs 9% of women sleep on their back.

🏦 Blackstone closed its fifth real estate debt fund, BREDS V, with $8 billion in commitments, highlighting a surge in commercial real estate investment. Despite volatility, hospitality, offering diversified income streams (accommodation, dining, events), is gaining investor interest over office spaces weakened by remote work trends. BREDS V's success reflects a retreat by traditional banks from real estate financing, giving way to private debt funds willing to take on more risks. This marks a significant post-pandemic recovery in hotel investment amidst a resurgent commercial property market, even with high interest rates.

💰 Dalata Hotel Group, founded in 2007, operates mainly in the UK and Ireland with a focus on 4-star hotels and is expanding into continental Europe. The group, listed on Euronext Dublin and the London Stock Exchange, has 56 urban properties, including 30 owned hotels valued at €1.7 billion and 23 leased with an average lease term of 29 years. It operates under two main brands: Clayton Hotels (27) and Maldron Hotels (26), plus three managed hotels in Dublin. The 2024 revenue was €652 million, with an adjusted EBITDA of €234.5 million and €173.2 million post-rent. Despite profitability, the board feels the current share price of around €5.50, valuing the company at €1.2 billion, undervalues the group's assets and performance, prompting consideration of capital divestment.

🏨 Dalata Hotel Group PLC, owner of Clayton and Maldron brands, is considering a strategic review that may include a sale. Rothschild & Co is appointed as financial advisor. The group operates 55 hotels with 30 owned properties valued at €1.7 billion, mainly in Dublin and London. In 2024, Dalata reported record revenues of €652.2 million, adjusted EBITDA of €234.5 million, and a net profit of €78.7 million. RevPAR grew 1% from 2023, with strong performance in Dublin. CEO Dermot Crowley aims for 21,000 rooms by 2030.

💰 Combo, a French HR software company founded in 2016, after raising €40 million, acquires Arhia, a Saas payroll software, to revolutionize its offering for small businesses. The acquisition enables Combo to become the first all-in-one solution in France, benefiting sectors like hospitality, healthcare, and sports by serving over 12,000 businesses and franchises, impacting more than 100,000 employee users. Combo aims to improve productivity and client communication for accountants through a complete HRIS and payroll integration.

🍻 Bertrand Franchise has entered into a strategic partnership by taking a minority stake in Crêpe Touch, aiming to make it the leader in crêpes and waffles in France. The collaboration involves Olivier Bertrand, founder and president of Groupe Bertrand, Mickaël Lipari, founder of Crêpe Touch, and associate Grégory Clément, who joined in 2022 to support franchise development. This move is set to accelerate Crêpe Touch's growth across the country, innovating with a modern dine-in concept, leisure for children, and adaptable design for diverse needs. Bertrand Franchise currently operates 10 iconic brands nationwide.

🏨 Mews raised $75 million led by Tiger Global with participants Kinnevik, Battery Ventures, and Goldman Sachs Growth Equity. The funding aims to accelerate U.S. and DACH region expansion, enhance AI revenue management tools, and enable strategic acquisitions. In 2024, Mews saw over 50% year-over-year growth, processed over $10 billion in payments, and generated over $200 million in revenue. The company achieved a 20% market penetration in the DACH region, partnered with BWH Hotels, and acquired Atomize.

🏡 Raffles Sentosa Singapore inaugurates its first fully villa-composed resort on Sentosa Island, featuring a unique retreat with wellness, nature, and legendary service. Nestled in 100,000 square meters of tropical greenery, the luxury sanctuary signifies Raffles' brand expansion in Singapore. The exclusive 62-villa complex, designed by Yabu Pushelberg and managed by Cavaliere Giovanni Viterale, offers spacious rooms with private pools and terraces. Guests can enjoy a natural setting with Raffles' butler service, a spa, fitness center, and preferred green fees at Sentosa Golf Club. The resort includes five fine dining restaurants, such as Empire Grill and Iyasaka by Hashida, and promotes sustainability with the Sentosa Sling, an eco-friendly take on the classic Singapore Sling.