- The proceeds from the transaction would be used to reduce Nexity’s debt level
- Nexity had €4.7 billion in revenue in 2022
- Bridgepoint is a listed international alternative asset manager focused on middle-market companies
Bridgepoint has entered exclusive talks to buy 100 percent of Nexity’s residential property management services (RPMS) business.
The deal has an enterprise value of €440 million.
Nexity is a real estate operator based in Paris. The planned strategic partnership agreed by Bridgepoint and Nexity would allow all the activities involved (joint property management, lease management, property rental and sales and insurance brokerage) to continue their development, according to a press statement. Nexity had €4.7 billion in revenue in 2022.
The proceeds from this transaction would be used to reduce Nexity’s debt level.
“The contemplated acquisition of Nexity’s Residential Property Management Services business fits directly with our mission, supporting French SMEs in along their strategic transformation and growth journey,” said Vincent-Gaël Baudet, head of Bridgepoint Europe in France. “The joint property management, lease management and property sale and rental businesses are dear to us. We understand and know them well, and plan to unlock the group’s full growth potential.”
Bridgepoint is a listed international alternative asset manager focused on middle-market companies and is based in London.
(Note: Bridgepoint owns PEI Group, the publisher of PE Hub Europe.)