Catella AB (publ) (”Catella”) completes, through a subsidiary, the previously announced transaction to acquire 75% of leading UK real estate investment and asset management company, APAM Ltd (APAM).
As announced in March 2018 Catella agreed to acquire 75% of the shares in APAM for a price corresponding to GBP 18 million, on a debt and cash free basis. Catella is now completing the transaction, and APAM is consolidated as a subsidiary in Catella Group, since necessary regulatory approval has been obtained from the financial supervisory authority in Luxembourg, Commission de Surveillance du Secteur Financier (CSSF). APAM has experienced fast growth over recent years and had revenues of approximately GBP 7 million during 2017.
“The UK is a key strategic market for us where we see significant investment interest from our clients, particularly from our Asian office. APAM is a leading business in its space with exceptional knowledge of real estate markets across the UK and an impressive track record of delivering strong returns for its clients. With this deal we strengthen our pan-European platform and local expertise giving us a competitive edge across Europe.” Knut Pedersen Group CEO of Catella comments.
APAM is an independent real estate investment and asset manager operating exclusively in the UK market with a combination of skills to offer clients an ‘end to end’ approach to support their investment strategy. APAM has assets under management (“AUM”) of GBP 1.4 billion and 41 employees. Simon Cooke and William Powell, founders and executive directors of APAM, will remain shareholders in APAM and have committed to the company for at least another five years. Catella APAM will continue to be independently run by its current management team and to pursue its successful growth strategy within UK.
“Catella Property Investment Management has continuously strengthened its competitive position in Europe and has experienced an annual cumulated growth rate (CAGR) in AUM of 31 % during the last three years. This transaction further strengthens our position as we reach AUM volume of EUR 8,1 billion” says Timo Nurminen, Head of Property Investment Management at Catella.
“The UK remains a hub for capital deployment throughout Europe and our deal with Catella reflects the UK’s continued prominence for global investment amongst institutions, sovereign funds and private investors. We relish the next phase of APAM’s growth within the outstanding Catella European Platform.” Simon Cooke and William Powell, founding shareholders and executive directors of Catella APAM said.
For more information, please contact:
Knut Pedersen Timo Nurminen
Chief Executive Officer Head of Property Investment Management
+46 8 463 33 10 +358 50 337 3320
Executive Director APAM
+44 7785 922716
Catella is a leading specialist in property investments, fund management and banking, with operations in 14 countries. The group has assets under management of approximately SEK 180 billion. Catella is listed on Nasdaq Stockholm in the Mid Cap segment. Read more online at catella.com.