Kohlberg &Co. LLC acquired InterstateHotels & Resorts Inc. from ThayerLodging Group Inc. and Jin Jiang International Hotels.
Thayer Lodging and Jin Jiang, in a 50/50 joint venture, tookInterstate Hotels privatein 2010.
Interstate Hotels said in a release that it will continue itsstrategic M&A activities to drive additional growth. The senior management teamwill continue to lead and retain equity stakes in the company.
Moelis & Co. LLC served as financial adviser to Interstate,while Jefferies LLC served in the same capacity for Kohlberg.
Morris Manning and Martin LLP acted as legal counsel to Interstate,while Kohlberg chose Paul Weiss Rifkind Wharton & Garrison LLP as its legalcounsel.
Antares Capital, Madison Capital, TIAA and MetLife are providingcommitted debt financing for the transaction.