Frankfurt, 17 July 2017 – Kintyre, the international property asset and investment manager, has acquired a strategic shareholding in technical solutions provider pacon Real Estate GmbH to boost vertical integration and optimise its managment platform for the benefit of clients and investment partners.
Based in Heidelberg, pacon Real Estate is a leading provider of technical services for facility management and construction, as well as consulting. The firms agreed to keep all financial details of the transaction confidential.
Kintyre Managing Partner Johannes Nendel said the equity stake will help optimise the management platform of Kintyre’s growing client asset base around Germany, implementing efficiency and management control.
“We have opted to buy a 20% take in pacon in order to add onsite technical solutions to the list of services Kintyre provides to clients, effectively keeping these solutions in-house,” Johannes Nendel said. “At the same time we don’t want to be managing a team of 50 technicians, distracting us from our core management expertise as we grow client portfolios.”
Thomas Kott, pacon Managing Partner, said the shareholding opens new opportunities for the fast-growing technical services firm. “We are delighted to welcome Kintyre as an equity partner, and look forward to the the opportunity to help serve its growing international client base with our wide suite of technical solutions,” Thomas Kott said.
Kintyre’s Johannes Nendel added that the strategic stake forms part of Kintyre’s overall strategy to verticalise its real estate management offering. “The existing pacon management will remain responsible for the full operational and day-to-day management of the business, while pacon, as our premier technical partner, gains access to Kintyre’s international client base that our group services so well.”
The move follow Kintyre’s impressive growth in 2016 in which assets soared by 22% to over EUR 700m in value managed across 110 properties in Germany.