The acquisition has been expected since December. It also follows the news in January that De Vere Venues' management of Altitude London came to an end after eight months.
Tony Dangerfield, De Vere Venues CEO, said: "We are delighted to confirm the acquisition of DeVere Venues by Starwood Capital Group. De Vere Venues has a solid reputation for delivering first-class meeting and events across our versatile mix of venues and we have a fantastic, committed team and a loyal customer base that has supported our drive to be the leading venue provider in the UK. This is good news for our clients and team.
"In Starwood Capital Group, we have found a leading, global investor that both understands our dynamic business and is excited about what we have achieved. Their track record in supporting already successful companies and brands such as ours achieve further growth is well known and we look forward to announcing further developments as the wider group strategy is confirmed."