European property fund manager Catella is buying a 60% stake in Aquila Group as part of a plan to expand into new businesses and markets.
Nasdaq Stockholm-listed Catella said it has agreed to buy the shares for €9.6m from Aquila Group’s management who will remain minority shareholders.
Aquila Group, which holds €1.4bn in assets under management, consists of Aquila Asset Management and the real estate investment fund management company Axipit Real Estate Partners.
Catella operates in 12 countries and has over €13bn in assets under management.
The acquisition of Aquila Group will complement its existing corporate finance operations in France as well as the continued growth of its pan-European platform, Catella said.
Christoffer Abramson, CEO of Catella, said: “The acquisition of the majority of Aquila means that we add another piece of the puzzle in place on our growth journey.”
The acquisition will provide “strong synergies with our existing operations in France and Europe, while the entry into the French fund business for private investors is of great strategic importance”, Abramson added.
Jean-Marc Sabiani and Gilles Barbieri, founders and managing partners at Aquila, said: “The partnership with Catella will give us extra power in our strategic journey of transforming into a global player in real estate savings.
“Aquila has a successful history built on local expertise, and as we now join Catella’s European network, we form a very strong team, internally in Europe as well as on the French market.”
“This partnership is a very important component in our endeavor to take the next step on the group’s profitable growth journey and to be an attractive partner for investors globally. We are now significantly strengthening our position,” said Abramson.
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