Swiss Life Asset Managers has purchased Swiss modular space solutions and related equipment provider Condecta from Paragon Partners for an undisclosed sum.

Modular construction

Modular Construction

The deal will be a first for Swiss Life AM, expanding its activities from property asset management and investment to the modular construction sector.

Condecta provides a comprehensive range of products including modular spaces, container systems, sanitation solutions, and construction machinery. Under the new ownership, the company plans to broaden its geographic reach and product offerings.

Founded in 1959 and based in Winterthur, Switzerland, Condecta’s adaptable solutions cater to a wide range of needs, from industrial and commercial to residential and public sectors.

The company's space systems can be configured for various purposes, including industrial (production, storage, workshops, processing facilities), commercial (offices, administration buildings, retail, exhibition spaces, takeaways, canteens), and public (training venues, company crèches, temporary or permanent accommodation, medical facilities, sports venues, changing rooms).

The company also offers the SAFE range, specialized storage solutions for hazardous materials.

Swiss Life AM plans to grow Condecta's business both within Switzerland and internationally. The company will maintain Condecta's existing locations in Switzerland, Germany, and Italy, and all 220 employees will retain their positions. Condecta's management team will also remain unchanged.

Gianfranco Saladino, head of value-add infrastructure at Swiss Life AM, 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 AM, commented: ‘Condecta complements Swiss Life AM’ 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, added: ‘The management team of Condecta is excited. We look to the future with great entrepreneurial enthusiasm. 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.’