PAI-backed Apleona to merge with Gegenbauer Group

• PAI Partners invested in Apleona in 2021
• Apleona, based in Frankfurt, is a European real-estate services provider and facility manager
• PAI is a private equity firm based in Paris, France

Apleona, backed by PAI Partners, announced a merger agreement with Gegenbauer Group, a facility management provider. No financial details of the transaction were disclosed.

Gegenbauer is headquartered in Berlin, Germany, and has 18,000 employees. The firm reports average sales of €900 million annually.

The transaction is expected to be completed by the summer of 2023, subject to regulatory nods.

“The merger with Gegenbauer will further strengthen Apleona’s market position and runway for growth,” said Ralph Heuwing, partner, and head of DACH at PAI Partners. “In the future, we anticipate Apleona being one of the strongest and most visible brands in what continues to be a highly fragmented European facility management market.”

Apleona will become an integrated real estate services firm with over 40,000 employees across Europe, recording annual sales of around €3.5 billion, according to a release.

Gegenbauer’s former shareholders will become shareholders in Apleona with PAI Partners holding the majority stake in the firm. PAI invested in Apleona in 2021.

Gagenbauer’s assets will be transferred to Apleona Group and all business will operate under the Apleona brand following the merger, the release stated.

Apleona, based in Frankfurt, Germany, is a European real-estate services provider and facility manager.

PAI is a private equity firm based in Paris, France, that handles €26.4 billion of dedicated buyout funds and has completed 94 investments in 11 countries, representing over €81 billion in transaction value.