Swiss Prime Site: Acquisition of the Akara Group in Zug
In order to further strengthen its business model in the services segment, Swiss Prime Site is acquiring the founder-managed Akara Group with assets under management of around CHF 2.3 billion.
The transaction is expected to close in mid-January 2022, retroactive to January 1, 2022. There is no information on the sales price. According to Swiss Prime Site AG, 35% of the acquisition will be financed from SPS shares and the authorised capital earmarked for this purpose. The remainder of the transaction amount will be paid from freely available funds. It is planned to integrate the Akara Group or the respective companies into Swiss Prime Site Solutions in the course of the 2022 financial year and to merge the two fund management companies, Swiss Prime Site added. As a result of the intended merger, Swiss Prime Site Solutions would grow into a real estate asset manager with real estate assets under management (incl. development pipeline) of over CHF 6.5 billion and an expected EBIT contribution of CHF 27 to 28 million in 2022.
Akara Funds AG was founded in 2016 by Karl Theiler and Jonathan van Gelder and developed into a FINMA-regulated fund provider with a focus on residential and commercial real estate. The Group includes Akara Real Estate Management AG, which provides real estate services in the areas of development, realisation, management and marketing, as well as Akara Property Development AG, which provides management services for a limited partnership for collective investment (KmGK). The group employs a total of around 50 real estate specialists, all of whom will be taken on. The real estate assets under management total around CHF 2.3 billion and consist of the Akara Diversity PK, a real estate fund for tax-exempt pension funds, the private equity product Akara Property Development 1 KmGK for qualified investors and a development pipeline (including Akara Tower, Baden) of over CHF 240 million.
"We are very pleased to be able to acquire the Akara Group, an innovative, dynamic and at the same time established company," says René Zahnd, CEO of Swiss Prime Site. "The fund provider's business model and corporate culture are a perfect fit for Swiss Prime Site Solutions." - "The future affiliation with the Swiss Prime Site Group will enable us to combine our strengths in the funds sector and significantly expand our market position," says Karl Theiler, CEO of Akara. To ensure an orderly transition, Karl Theiler and Jonathan von Gelder would continue to work for the company until July 2022, SPS says. In addition, there is the option for further cooperation on a mandate basis. (bw)
