Acquisition of PSP AG's facility services business in Switzerland: Bilfinger Berger now among market leaders in property management
July 11, 2007
July 11, 2007
Acquisition of PSP AG's facility services business in Switzerland:
Bilfinger Berger now among market leaders in property management
With the acquisition of PSP AG's external facility services business, Bilfinger Berger has expanded its market position in Switzerland and is now among the country's leading property management companies. This business, acquired within the scope of an asset deal, has 115 employees and generates a fee volume of €12 million. Its clients are Swiss institutional investors such as the Zürich Insurance Group. The market value of the real-estate portfolios under management stands at €5 billion. Both parties have agreed not to disclose financial details of the deal.
In recent years, Bilfinger Berger's facility services business in Switzerland has been established primarily through acquisitions. In financial year 2007, output volume will increase to about €50 million. The business acquired from PSP will be integrated into the new EPM Swiss Property Management AG. Bilfinger Berger is one of only a few full-service providers for integrated facility and property management in Switzerland.
Facility services are a part of Bilfinger Berger's growing Services segment. In the last financial year, output volume in this segment increased to €658 million. The range of services on offer covers the complete property spectrum, from individual solutions to integrated services. The Group undertakes demanding technical services, particularly maintenance and operation of complex building equipment as well as the property and asset management of entire real-estate portfolios. The focus of these activities is in Germany. By building up its strong market position in Switzerland, Bilfinger Berger is pursuing a strategy of spreading this business to interesting European markets.