Switzerland / France: Franco-Swiss high-end, short-term rental property management scale-up Emerald Stay has acquired a majority stake in Bo-House SAS and Fabio Home Services SAS, two premier property management companies operating in the Saint-Tropez region.
The strategic acquisitions will significantly grow Emerald Stay’s footprint in the luxury rental and property management market, as it seeks to position itself as the de facto market leader in the Saint-Tropez rental market.
Emerald Stay is a portfolio company of Limestone Capital AG, which recently increased its stake through an investment round in Emerald to fuel further growth and expand its successful buy-and-build strategy. According to Crunchbase, Emerald Stay secretly raised €14 million in a funding round in February.
Bo-House SAS caters to high-end clientele in Saint-Tropez, Ramatuelle, Gassin, Grimaud and La Croix-Valmer, with over 170 properties under management.
Meanwhile, Fabio Home Services SAS manages more than 80 properties under recurring agreements. The company also offers a full range of services, including stewardship, concierge services, administrative management, interior architecture, and event planning.
According to a press release, Bo-House and FHS’ existing management will continue to drive operations and grow the businesses’ footprint, with the support of Emerald Stay’s technology and marketing infrastructure.
The acquisitions of both Bo-House and FHS are expected to drive further growth for Emerald Stay and enable it to increase its market share in highly competitive markets, particularly in premium beach and mountain destinations.
Maxime Friess, co-founder and CEO of Emerald Stay, said: “We are thrilled to welcome Bo-House and Fabio Home Services into the Emerald Stay family. Their expertise and reputation in the Saint-Tropez region perfectly complement our vision of providing unparalleled luxury rental and property management services.
“This acquisition marks a significant milestone in our growth strategy, and we look forward to delivering exceptional value to our clients and property owners,” he added.
Benjamin Habbel, co-founder and CEO of Limestone Capital, said: “This acquisition is a pivotal step for our portfolio company, Emerald Stay, significantly bolstering our portfolio in the luxury hospitality market. By integrating Bo-House and Fabio Home Services, we enhance our market leadership in Cote d‘Azur, reflecting our commitment to transforming value-add real estate through innovative, technology-driven operations.
“This move underscores our strategy to drive growth and deliver exceptional value to our investors,” he added.
Emerald Stay had already made three significant acquisitions in the last two years prior to the latest deals, in the shape of Cotswolds-based luxury chalet operator Ski Verbier Exclusive and Mallorca-based property management companies Esteva Group and Morgan and Morgan.
