Global investment firm Permira is acquiring a majority stake in real estate energy and sustainability advisory firm Westbridge Advisory.
Permira said its funds have agreed to acquire a majority stake in Westbridge, without disclosing financial terms.
IPE Real Assets understands that the firm is acquiring over 80% interest in Westbridge.
Westbridge is currently owned by its founders and investment firm Genui. The founders will make a significant reinvestment alongside Permira funds, while Genui will fully exit.
Founded in 2015 and headquartered in Frankfurt, Westbridge advises real estate clients on energy procurement and carbon-footprint reduction to help them achieve long-term sustainability goals.
The company also operates international offices in London, Warsaw, and Zurich.
Florian Kreuzer, head of DACH at Permira, said: “We are delighted to partner with the founders of Westbridge. This investment once again underscores our commitment in the DACH region to supporting visionary entrepreneurs in driving profitable growth.
“With Westbridge playing a pivotal role in reducing the real estate sector’s carbon footprint, the transaction also increasingly aligns with our firm’s new climate-investment focus.”
David Brückmann, MD in Permira’s services sector, said: “The sustainability trend in real estate presents immense growth potential for expert advisory firms like Westbridge. We look forward to leveraging our tech-enabled services expertise and international network to help Yama [Yama Mahasher, CEO of Westbridge] and his team to expand into new markets.
“Westbridge is a great match with Permira’s services strategy, which focuses on high revenue quality, sticky client relationships and resilient growth.”
Mahasher said: “We are very much looking forward to writing the next chapter of our success story with Permira. Jointly, we will further internationalise our business and invest in our future growth.
“A big thanks to the team of Genui that has supported us successfully since 2021. We are passionate in solving our clients’ energy and sustainability needs and with the Permira funds as our new partner, we will drive the energy transition in real estate.”
Max Odefey co-founder of Genui, said: “We are proud that Westbridge has developed to become a significant market leader under our ownership with sales having increased sevenfold, and a series of strategic accretive acquisitions and organic extensions realised. We wish the team and the new majority shareholder Permira all the best for the further successful growth story.”
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