An affiliate of U.S. private equity fund KSL Capital Partners has acquired the parent company of United Kingdom boutique hotel chain The Pig Hotels.

The terms of the deal were not disclosed, according to a news release.

Founded in 2011, The Pig Hotels — usually referred to as The Pig — has eight hotels in Southern England, each with approximately 30 guestrooms. Seven are country hotels and one is an urban hotel, which is located in Southampton, Hampshire. The other hotels in the portfolio are mostly in the U.K.’s West country — Devon, Dorset, Cornwall and Somerset — with the remaining two in the Southeast, in Kent and Sussex.

The Sussex property, The Pig in the South Downs, opened in September of last year in Madehurst, near Arundel.

Its first asset, in the New Forest, also is in Hampshire and contains Pig’s trademark offerings of country-chic furnishings, excellent cuisine made from local products, much from its properties’ gardens, and unassertive luxury.

KSL Capital Partners has U.S. offices in Denver, Colorado, and Stamford, Connecticut, and international offices in London and Singapore.

As part of the deal, Robin Hutson will remain as chairman of The Pig and retain a stake in the business. Hutson is CEO and chairman of Home Grown Hotels, The Pig Hotel’s parent company. He also leads Lime Wood Group, which owns and manages hotels Lime Wood — also in the New Forest — and Portetta, a seasonal mountain resort in Courchevel, France.

Tina Yu, principal at KSL’s London office, said in the news release that her company will continue the growth of The Pig Hotels.

“The team at The Pig has created something truly unique and exceptional: hotels set in the English countryside which are dedicated to providing genuine hospitality and are at the forefront of environmental responsibility," Yu said. "We look forward to being part of this journey and supporting the management team.”

In the release, Hutson said he is excited to work with KSL Capital's hospitality team.

"KSL invests in some of the most iconic and well-known hotels in the world and has had great success preserving what makes each asset unique," Hutson said. "The investment will allow us to continue to grow and expand our collection, while offering our guests the same home away from home quality they expect at each of our hotels."

Tom Ross, managing director of The Pig Hotels, said in an interview that KSL’s investment will allow the company to expand but that essentially nothing will change.

“We are the size now where we’ve got to a stage organically, so this is really about getting to the next level," Ross said. "On a day-to-day level, nothing has changed. Our DNA is hotels and looking after people. All the cast of characters have not changed."

Ross said the news is exciting to its staff, with the group always promoting from within.

“It gives us the opportunity to open new hotels, which always gets the energy going. There will be opportunities for our staff and 57 apprentices,” he said.

Ross himself was promoted upon the announcement of the deal from his former position of group operations director, Home Grown Hotels.

Ross said it is unlikely Hutson will completely disappear from The Pig's daily operations.

“It might be a step back from what might be termed the nitty gritty, but he has been always all over the business, and he will continue to be," Ross said.

He added KSL’s involvement is very much as a background partner.

“Ninety-nine percent of guests will not know about [the deal] and not know about it in the future," Ross said. "It allows us to do what we want and look for new properties."

Growth likely will remain organic, Ross said. He added that Hutson receives one or two candidate properties every week but that the company may add just one property per year.

“It is about finding the right spot. Undoubtedly, we’re Southeast [England]-focused," Ross said. "That is where the population is. … The next hotels, wherever they are, will see nothing changed. Why would we change our formula?”

Piers Schmidt, founder of business advisory Luxury Branding, said The Pig is a “great little brand with a great, little collection of jewel-like hotels.” KSL Capital is an excellent investment partner with good track record of backing growth, although it does not differ from other private-equity firms in their contemplation of exit strategies, he said.

“They will have a five- to seven-year window," Schmidt said. "They were big investors in Six Senses [Hotels Resorts Spas], and of course the Six Senses‘ people will say they were helpful and gave [them] capital that ended with them becoming part of IHG [Hotels & Resorts]."

Overall, the partnership should benefit both companies, Schmidt said.

“The owners of the Pig will come to the point where they want some return for their work, so I see them being very aligned with KSL in [an exit] … and KSL definitely has expertise in this,” Schmidt said.

The question arises, Schmidt said, as to whether KSL and The Pig Hotels will have a long-term relationship. If not, who might acquire The Pig when an exit happens?

“Inevitably, it will be Accor,” Schmidt joked.

A bigger portfolio could be attractive to larger hotel companies, Schmidt said.

“The Pig is is not big enough yet for one of the big groups, but if it grows to 25 to 30 properties, it will become digestible, and there clearly is plenty of scope in the U.K. to grow,” he said.

Ross did not mention potential growth for The Pig outside of the U.K.

Schmidt said international expansion might grow in certain markets where “England’s quirky, eccentric vibe seems to play well ... but somewhere like France would be tricky where they feel they do not need that.”

He mentioned brand Soho House as an example of one such hotel group.

“It might be mentioned in slightly the same breath as the Pig, with the same style,” he added.

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