Hotel information system company Uniguest has been acquired by a private-equity firm that is looking to, among other things, take the company more aggressively into other industries.
Connecticut-based Atlantic Street Capital isn’t disclosing the price it paid for 27-year-old Uniguest, which was founded by Mark Oldham as U.S. Hospitality. The company markets a package of hardware, software and content for hotel business centers, electronic displays and features in hotels. The company has installed its products on 12,000 devices at nearly 7,000 properties in 35 countries.
Uniguest, which employs more than 100 people locally and another 50 around the country, also has been developing products for other industries, such as retail, health care and real estate. Peter Shabecoff, managing partner at Atlantic Street, said his team sees potential to speed up those initiatives.
“The company has built lasting relationships with many of the leading hospitality brands across the globe and we believe we can work as partners with Uniguest's strong management team to develop those relationships and further accelerate the company's growth,” Shabecoff said. “There are a number of exciting opportunities to expand the breadth of the company's relationships and product offerings, as well as to accelerate existing initiatives that transcend beyond the core hospitality sector.”
Uniguest CEO John Bearden will stay in his position. Oldham — a board member of the Post’s parent company, SouthComm — and other shareholders were advised on the deal by local firm Harpeth Capital LLC.
Founded in 2006, Atlantic Street has more than $100 million under management and specializes in middle-market companies with revenues of $25 million to $150 million. Its typical investment is for between $5 million and $20 million of equity.