THCP and Atlantic Park-backed Borealis Hotel Group snaps up Bierwirth & Kluth

• THCP and Atlantic Park will support Borealis in seeking additional M&A opportunities
• Atlantic Park is a joint venture between General Atlantic and Iron Park Capital Partners
• Bierwirth & Kluth is a hotel operator and manager operating in the DACH region

Three Hills Capital Partners (THCP) and Atlantic Park Strategic Capital Fund announced that Borealis Hotel Group, the Amsterdam-based hospitality group, has acquired Bierwirth & Kluth, a hotel operator and manager operating in the DACH Region.

THCP has been invested in Borealis since 2019 and as part of the deal Atlantic Park agreed to invest in Borealis alongside the firm to finance the acquisition.

Wiesbaden, Germany-headquartered B&K is a white-label hotel operator that has preferred franchise partnerships including brands such as Marriott and IHG. The acquisition sees the companies create a pan-European group with a footprint of over 30 hotels. THCP and Atlantic Park will support Borealis to expand further through additional M&A.

“This transaction represents a positive step forward in Borealis’ growth journey towards becoming a leading European hotel platform, and THCP is delighted to work alongside AP to support the company’s expansion,” said Leks de Boer, partner at THCP. “We believe Borealis has a strong pipeline of further growth opportunities and we are excited for the next chapter ahead.”

Three Hills Capital Partners is a European mid-market investor that was founded in 2008. It has around €2 billion in assets under management and is based in London.

Atlantic Park is a joint venture between two investment firms, General Atlantic, a growth equity investor, and Iron Park Capital Partners, an alternative investment manager. The firm is based in New York and was established 40 years ago. It is an industry generalist but leverages General Atlantic’s expertise in the technology, healthcare, financial services, consumer and life sciences sectors.