Swiss Life Asset Managers has acquired modular space and equipment specialist, Condecta, from Paragon Partners.
The asset manager has invested an unspecified amount on behalf of one of its infrastructure funds to take over a company that provides container systems, sanitation systems, construction machinery, construction equipment and wastewater treatment systems.
Condecta was founded in 1959 with headquarters in Winterthur, Switzerland.
Swiss Life Asset Managers said it plans to expand Condecta’s product range and geographic footprint while maintaining its existing network in Switzerland, Germany and Italy.
Gianfranco Saladino, head of value-add infrastructure at Swiss Life Asset Managers, said: “The Swiss market for modular space rental solutions has potential, particularly in the fields of public services, industry, construction, architecture and the private sector, which all require high-quality, modular building solutions.
“Condecta, which is known for the premium Swiss quality of its products, is well-placed to meet the rising demand for such solutions.”
Matthew Dooley, investment director, at Swiss Life Asset Managers, said: “Condecta complements Swiss Life Asset Managers’s extensive real estate and infrastructure business in Switzerland.
“It is also a company that invests in research and development in order to create innovative and sustainable products, and help protect the environment. We are looking forward to the future possibilities for driving innovation and developing our business.”
Oliver Annaheim, CEO of Condecta, said: “With Swiss Life Asset Managers, we have found the perfect new owner to drive our growth and innovation plans even more decisively and to further expand our market leadership in modular space solutions in Switzerland.
“With our versatile solutions in industry, public sector, events and construction, we are confident in continuing to provide exceptional customer value and growing together with our partners.”
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