Catella signs agreement to acquire majority stake in Aquila Asset Management

Catella has today agreed to acquire 60 percent of the shares in Aquila Asset Management SAS (“Aquila Group”) for the preliminary purchase price of approximately EUR 9,6 million. The Aquila Group consists of Aquila Asset Management and the real estate investment fund management company Axipit Real Estate Partners, with in total EUR 1.4 billion in assets under management. The acquisition will complement Catella’s strong existing Corporate Finance operations in France as well as the continued growth of its pan-European platform.

Aquila Group consists of Aquila Asset Management, founded in 2010, and the real estate investment fund management company Axipit Real Estate Partners, founded in 2021. Axipit offers innovative and differentiating solutions to both retail and professional investors and is regulated by the French Financial Markets Authority (Autorité des Marchés Financiers).

The shares are acquired from local management who will remain minority shareholders. The sellers are entitled to an additional purchase price of approximately EUR 1 million if certain criteria are fulfilled. The acquisition is financed by Catella’s own capital. Closing of the transaction is subject to regulatory approval and expected during the second half of 2023.

“The acquisition of the majority of Aquila means that we add another piece of the puzzle in place on our growth journey. Aquila is one of the largest independent players in real estate asset management in France with very high competence, an eminent portfolio, and a large network. The acquisition will provide strong synergies with our existing operations in France and Europe, while the entry into the French fund business for private investors is of great strategic importance,” said Christoffer Abramson, CEO of Catella.

France is one of Europe’s most attractive investments markets and Aquila Group is an important real estate asset manager transforming into a European player with EUR 1.4 billion in assets under management and sound profit margins. The acquisition will contribute and complement Catella’s existing operations and ambition to further capitalize on the company’s strong financial position to expand into new businesses and markets.

“The partnership with Catella will give us extra power in our strategic journey of transforming into a global player in real estate savings. Aquila has a successful history built on local expertise, and as we now join Catella’s European network, we form a very strong team, internally in Europe as well as on the French market” said Jean-Marc Sabiani and Gilles Barbieri, Founders and Managing Partners at Aquila.

“This partnership is a very important component in our endeavor to take the next step on the group’s profitable growth journey and to be an attractive partner for investors globally. We are now significantly strengthening our position,” said Christoffer Abramson.

Conversion of shares in Catella AB

According to Catella’s articles of association a holder of a share of class A has the right to require that the share be converted into a class B share. Such conversion decreases the total number of votes in the company. After such a conversion has taken place, the company has an obligation under law to, in this way, publish information about the change.

During May 2023, 19,710 shares of class A have been converted into the same number of shares of class B. Thereafter, the total number of votes in Catella amount to 98,192,700.

The total number of registered shares in the company after the conversion amount to 88,348,572, of which 2,461,032 shares of class A and 85,887,540 shares of class B.