LONDON (ShareCast) - (ShareCast News) - AIM-listed professional services company Christie Group's business, Christie & Co, a provider of agency and advisory services, announced it had brokered the acquisition of the Chapman Group by Dominion Hospitality.
Dominion Hospitality, an affiliate of private equity company Stellex Capital Management, invests in middle market companies in North America and Europe and bought the hotel and pub company, in order to expand its presence in the UK.

Chris and Delia Chapman, who owned the portfolio of 28 hotels and pubs in the south of England have previously worked with Stellex for over the terms of the transaction.

Neil Morgan, managing director, pubs and restaurants at Christie & Co said: "Since entering the pub trade in 1977, the Chapman family has continually sought to acquire sites which have been neglected and are then redeveloped to create presentable and profitable businesses.

"Over the last 15 years, we have been advising and working with the Chapman Group to create an estate that was previously highly focused on wet-led outlets, some with late licences, has been shifted to create a more balanced portfolio with letting accommodation becoming a major factor. Since 2001 all new acquisitions have had hotel bedrooms and facilities have also been added to those where space permitted."

Stellex partnered with Ted Kennedy, who owns Pebble Hotels and was previously a managing director in Whitbread's managed pub division, and Billy Buchanan, chief executive of LT Management Services, to assist with the acquisition.

Shares in Christie Group were down 2.4% to 89.30p at 1124 GMT.

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