Apleona and Gegenbauer Group merge
Apleona and the Gegenbauer Group are merging. This creates real estate services firm with more than 40,000 employees across Europe, servicing a correspondingly large number of elevators and escalators. Annual sales amount to around 3.5 billion euros.
With 18,000 employees, the Gegenbauer Group generates average sales of almost 900 million euros annually, split equally between hard and soft services. Gegenbauer operates predominantly in Germany. Following antitrust approval, all assets will be transferred to the Apleona Group.
The Apleona Group's customers include industrial companies, financial institutions and institutional real estate investors. The service portfolio comprises all technical, commercial and infrastructural services for commercial real estate of all asset classes.
Transaction expected to be completed by the summer of 2023
As part of the transaction, the previous shareholders of the Gegenbauer Group will become shareholders of Apleona. The majority shareholder in Apleona will remain the private equity company PAI Partners after the merger.
The transaction is subject to approval from antitrust authorities and is expected to be completed by the summer of 2023. Once antitrust authorities have approved the merger, all assets will be transferred to the Apleona Group. All business will be continued under the Apleona brand following the merger.
More information: apleona.com
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