SPS acquires Swiss services provider

Swiss Prime Site (SPS) said on Thursday it has concluded an agreement with Credit Suisse Group on the acquisition of the Winterthur-based property services provider Wincasa.

The company ranks as one of the leading real estate services providers in Switzerland, with more than 670 employees and 171,000 properties under management.

The acquisition will allow SPS to gain more direct access to regional real estate markets and to strengthen its strategic position for project development and acquisition activities as well, the company said.

Conclusion of the transaction is planned for end-October 2012, subject to approval by the Swiss Competition Commission. The two parties have agreed not to disclose the acquisition price.

SPS aims to retain Wincasa as an independent subsidiary within the company’s current constellation. Beat Schwab - who was responsible for the expansion of Wincasa in recent years as the firm’s CEO - will leave the company at end-October and be replaced by Oliver Hofmann from 1 March 2013.