Advising global serviced accommodation provider on joint venture

The transaction was a highly complex, cross‑border corporate merger involving extensive pre‑completion group reorganisations, international legal due diligence and a novel equity structure.

Cripps coordinated multi‑jurisdictional advisers, managed dual data rooms and supported with restructurings to carve out non‑key entities and consolidate key IP. Unusually structured through a newly formed holding company acting as both buyer and seller, the deal combined two global accommodation businesses into a single, strategically aligned group under English law documentation.

The challenge

This transaction brought together two major global accommodation providers through a highly complex structure. Both parties undertook extensive pre‑completion reorganisations, carving out non‑core entities and transferring key IP into the new merged entity. The deal required a bespoke structure in which both sides transferred their holding companies into a new jointly owned Holdco – meaning that our client was simultaneously buyer and seller.

The transaction involved extensive cross‑border elements, with workstreams in the US, Singapore, India and Spain. Despite this, all documentation was governed by English law, creating a unique legal position requiring careful co-ordination. The timetable was extremely tight due to planned joint announcements at US industry conferences.

Additional challenges included analysing National Security and Investment Act considerations, potential anti-trust issues and addressing differing risk appetites between the merger parties. The sheer number of steps, advisers and jurisdictions involved made exceptional project management essential.

Our approach

Cripps assembled a multi‑disciplinary team to run buy‑side, sell‑side and reorganisation workstreams in parallel. We assisted local counsel in reviewing Synergy’s restructuring steps in the US and Singapore while implementing Crowe LLP’s step plan for SilverDoor’s UK reorganisation. We managed both data rooms and coordinated international due diligence, making use of HighQ’s i‑sheet functionality to streamline information sharing across jurisdictions.

We also led the negotiation of complex equity arrangements for the new entity, balancing commercial priorities between a large publicly listed shareholder group and a family‑owned private company.

Throughout the transaction, we held regular all‑adviser calls, maintained close communication with SilverDoor’s founder and senior management and worked closely with Crowe LLP. Our approach ensured aligned decision‑making, rapid progress and consistent risk management, despite the transaction’s scale and pace.

The outcome

The deal completed within the accelerated deadline, enabling the parties to announce the merger at industry conferences in the US as planned. The structure successfully created a new global entity led by SilverDoor’s owner, Habicus, with Ascott taking a strategic minority interest. The equity structure, granting SilverDoor a 70% shareholding and board control while issuing non‑voting preference shares to Synergy’s shareholders, provided a fair and durable governance model for long‑term collaboration.

The transaction consolidated two respected market leaders and positioned the combined business for global expansion and enhanced technological investment. The launch of the new “Synergy by SilverDoor” brand and plans for branded apartments across the UK, including in the South East, are expected to stimulate demand for property management, maintenance and hospitality services, contributing positively to the regional economy.

The reorganisation and diligence processes were completed smoothly, regulatory concerns were resolved and the new structure enables efficient integration, investment and operational alignment moving forward.

How we made a difference

Cripps played a central role in delivering a complex, sector‑shaping transaction within an ambitious timeframe. Our longstanding relationship with SilverDoor allowed us to anticipate commercial sensitivities, understand risk tolerances and act decisively throughout. We effectively managed dual buy and sell‑side processes, coordinated cross‑border due diligence and oversaw intricate reorganisation steps.

By combining legal experience with strong project management and clear communication, we ensured all advisers, jurisdictions and stakeholders remained aligned. Our use of technology improved efficiency and our drafting and negotiation of the equity arrangements helped establish a strong platform for future collaboration.

More broadly, the merger will have a meaningful impact on the wider region; supporting innovation, creating opportunities for local suppliers and strengthening the area’s reputation as a hub for sophisticated advisory work. Our involvement helped bring together two global leaders to form a business well‑positioned for long‑term success.

How we can help

Contact us if you would like to understand more about how Cripps’ commercial team and help you simplify your contracting process.

“The Cripps team have been simply fabulous throughout the many years we’ve worked together. I want to thank all of you for your continued friendship and guidance, particularly over the past few months. We’ve felt fully supported by the whole Cripps team through all aspects of this fast-paced transaction: each and every person we’ve worked with truly understands our strategy and goals for growth, and we look forward to working with you on the next exciting steps in our new joint venture’s journey.”