Partners Group, global private markets firm, is expanding the shareholder base of Foncia, a provider of residential property management services in Europe. Incoming shareholder TA Associates has agreed to acquire a 25 per cent stake in the business, while Partners Group will continue to hold a majority stake in the Company on behalf of its clients.
Founded in 1972 and headquartered in Paris, France, Foncia provides a range of services primarily to residential property owners and tenants, including joint property management, lease management, letting, and brokerage services. The Company also offers a range of ancillary, digital, and B2B services, such as diagnostic solutions and B2B property management.
Partners Group acquired Foncia on behalf of its clients in 2016 and since then has significantly accelerated the Company’s growth and market leadership position in France and internationally. In the last five years, Partners Group has transformed Foncia into a more institutionalised business, accelerated M&A activity, with over 260 acquisitions completed, and started the Company’s digital transformation through the in-house development of a new ERP software to tech-enable its services.
Today, Foncia employs approximately 12,000 people across 600 branches and manages a portfolio of 2.5 million individual residential units across France, Germany, Switzerland, Belgium, and Luxembourg. The Company is expected to generate pro forma sales of €1.25 billion by the end of 2021. Following this recapitalisation, Partners Group will continue to lead the expansion of Foncia’s platform across Europe and complete its digital transformation.
Read more/Source: Private Equity Wire
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