Swiss Life Asset Managers has acquired the modular space and equipment specialist Condecta from Paragon Partners.
The asset manager has invested an undisclosed amount for one of its infrastructure funds in the acquisition of a company that offers container systems, sanitation systems, construction machinery, construction equipment and wastewater treatment systems.
Condecta was founded in 1959 and is headquartered in Winterthur, Switzerland.
Swiss Life Asset Managers announced that it will expand Condecta’s product range and geographic presence 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 public services, industry, construction, architecture and private sector, all of which require high-quality, modular building solutions.
“Condecta is known for the first-class Swiss quality of its products and is well positioned to meet the increasing demand for such solutions.”
Matthew Dooley, Investment Director at Swiss Life Asset Managers, said: “Condecta complements Swiss Life Asset Managers’ extensive real estate and infrastructure business in Switzerland.
“It is also a company that invests in research and development to create innovative and sustainable products and contribute to environmental protection. We look forward to future opportunities to drive innovation and further develop our business.”
Oliver Annaheim, CEO of Condecta, said: “With Swiss Life Asset Managers, we have found the perfect new owner to drive forward 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 for industry, the public sector, events and construction, we are confident that we will continue to offer exceptional customer value and grow together with our partners.”
Click here to read the latest IPE Real Assets magazine.
