UK/US: Student accommodation specialists The Dot Group has reached a contractual agreement to acquire the CRM Students Ltd group of companies from CORESTATE Capital Holdings S.A.
The agreement will see Dot acquire CRM Students, and its subsidiaries, across the UK and Europe, consisting of more than 26,000 beds in seven countries and more than 100 properties. The strategic acquisition expands Dot’s combined global footprint into four new European markets: Austria, Italy, Poland and Portugal while substantially expanding its UK footprint.
Dot Group is made up of asset and fund manager Global Student Accommodation (GSA), PBSA operator Yugo, online marketplace Student.com, and PBSA debt financing platform Kinetic Capital.
CRM Students is a third-party student operator with a portfolio of properties and bespoke management services. It includes the Beyoo brand.
Nicholas Porter, CEO of The Dot Group, said: “We are pleased to reach a contractual agreement to bring CRM Students into the Dot family. CRM Students is a business that has achieved a great deal and grown organically across the UK and multiple European countries in third party operational management. As the transformational force in global student living, Dot is focussed on making a difference to students through connecting and enhancing our brands to drive stronger performance, scale and growth across new and existing markets. There is already significant cultural and strategic alignment between our companies, presenting real opportunities for the future. We are looking forward to welcoming Richard and his team into The Dot Group.”
Richard Skeels, CEO of CRM Students, added: “I am pleased that we have reached an agreement to join The Dot Group. CRM Students is proud of its heritage across the UK and Europe. We believe Dot is the perfect partner to continue that journey to further develop our offering to clients and students. Our strategy will continue to focus on third party management and business expansion in the UK and Europe while servicing our existing clients. We’re excited by the greater access that comes with being part of The Dot Group and their footprint as global leaders in student living.”
