StaycityWednesday, 25 November 2020
ByrneWallace has acted for Staycity on the Irish corporate legal aspects of its recent refinance which included the investment by the State backed Irish Strategic Investment Fund (“ISIF”) of up to €30million and an investment by existing shareholders of €7million for equity alongside ISIF. Staycity was founded in 2004 by Tom Walsh and his brother Gerard Walsh and has now grown to a business encompassing 21 aparthotels across a number of European cities. The investment will ensure Staycity can withstand the challenges of Covid-19 and allow for future expansion and investment as it has ambitious plans to almost double its estate over the next 18 months with the opening of 10 locations including in Manchester, Dublin, Bordeaux, Paris, London and Frankfurt.
The ByrneWallace team that advised on the transaction was led by Neil Keenan, Partner and Head of Corporate and Laura Greene, senior associate Corporate.