Bilfinger bails out of property
Published: 02 June, 2016
FM and property advisory businesses sold to Swedish investor
Swedish private equity firm EQT has agreed a €1.2bn deal with Bilfinger to buy its Building and Facility division which includes the Bilfinger Europa FM business and the Bilfinger GVA property consultancy.
The deal values the business at €1.4bn. The three divisions – Facility Services, Real Estate, and Building, – and employ more than 20,000 people between them generating annual turnover of €2.5bn.
EQT partner Andreas Aschenbrenner said: “The plan is to expand Building and Facility’s already strong platform by organic growth as well as via acquisitions and to grow stronger than the market in Europe. The intention is to create a European leader in the real-estate services sector and EQT will invest in the company accordingly. To achieve this, we look forward to working together with the experienced and successful management of all the three divisions.”