Savills has unveiled the proposed acquisition of property and facilities management firms OMEGA Immobilien Management GmbH and OMEGA Immobilien Service GmbH in Germany.
The companies are headquartered in Cologne and provide property and facilities management services for offices, shopping centres, residential complexes and car parks of all sizes across Germany.
Globally in 2019, Savills generated more than 35% of its revenue from its property and facilities management business.
James Sparrow, chief executive of Savills UK and EMEA, said: “Our German business continues to go from strength to strength and this was a great opportunity to add a well-established property and facilities management specialist to complement our existing areas of client service in Europe’s largest economy. This further supplements our strong European property management network and will allow us to service clients in Germany as part of a national or pan-European requirement.”
Marcus Lemli, chief executive of Savills Germany and Head of European Investment, added: “With this acquisition we are closing a strategic gap and expanding our range of services in Germany. The OMEGA Immobilien businesses, which operate nationwide, provide us with a well-established and highly regarded property and facilities management platform in Germany.”
Martin Herkenrath, managing partner of OMEGA Immobilien Group, said: “By joining a leading global brand in the real estate industry with a strong reputation for property management, we will be able to build on our position in the market. Savills gives us access to a larger network of customers and employees, which will open up additional growth potential for the company and provide our employees with excellent development opportunities as part of an international business.”
The transaction is expected to close in Q3 following receipt of clearance from the German competition authorities.
This post has originally been featured in Property Wire.