REYL & Cie, an independent banking group based in Geneva, Switzerland, acted as financial advisor and co-arranger of the private placement as part of the listing of Ultima Capital SA (“Ultima Capital”), the luxury real estate owner, developer and operator, which today listed on the BX Swiss Exchange.
Ultima Capital SA (BX:ULTIMA), the luxury real estate owner, developer and operator, today listed on the BX Swiss Exchange with a private placement worth over CHF 50 million.
Ultima Capital’s assets mostly consist of a portfolio of 32 properties, all owned outright, comprising ‘5-star-plus’ luxury hotels and residences in prime locations including Gstaad, Schönried, Crans-Montana, Geneva, Megève and Courchevel, with a net value of CHF 397 million (excl. deferred taxes).
Ultima Capital co-founder, Max-Hervé George: “Since the project started five years ago, Ultima Capital has grown substantially. Today’s listing on BX Swiss marks an important stage in our development and we are delighted to welcome all our new shareholders. Our strong balance sheet, with a low level of debt of 31%, and our current significant total cash availability of CHF 115 million will underpin our expansion into new locations. Our track record with a strong millennial management team shows that we understand the dynamics of this fast-evolving sector. The growth potential for the luxury hospitality market is significant, and we are at the forefront of several major trends that are currently reshaping the sector. We look forward to working with our partners, especially REYL & Cie, in expanding the Ultima brand.”
Thomas Fontaine, Head of Entrepreneur & Family Office Services at REYL & Cie: “We have worked for the past two years alongside Ultima Capital and its co-founders not only as a general banking partner but also as a financial advisor. Today’s listing perfectly illustrates our newly launched Entrepreneur & Family Office Services division’s 360-degree approach. The seamless collaboration between the teams of Corporate Advisory & Structuring and Entrepreneur & Family Office Services demonstrates our relentless aim to create long-term value for entrepreneurs.”
Christian Fringhian and Xavier Ledru, respectively Head and Deputy-Head of Corporate Advisory & Structuring at REYL & Cie: “Our role as financial advisor and co-arranger of the private placement as part of the listing of Ultima Capital marks a significant milestone for REYL & Cie as it expands its footprint in Swiss equity capital markets. This transaction illustrates REYL & Cie’s commitment to provide a full range of institutional solutions including capital markets, structured finance and M&A to assist our ever-demanding entrepreneurial clients at every step of their corporate development.”
REYL & Cie and Engelwood Global Services were the financial advisors and co-arrangers of the private placement. REYL & Cie was also the paying agent.