Implenia takes over Wincasa

The Swiss Prime Site Group (SPS) is selling its real estate services provider Wincasa to Implenia. According to Implenia and SPS, a purchase agreement to acquire 100% of Wincasa's share capital was signed on March 29. The purchase price amounts to CHF 171.6 million and will be paid in cash, Implenia says. The closing of the transaction is expected to take place in the second quarter and will be implemented retroactively as of January 1.

"The acquisition of Wincasa fits perfectly with our strategy - with a clear focus on stable service revenues along our value chain," explains Implenia CEO André Wyss. Implenia will benefit from Wincasa's knowledge and customer relationships. Wincasa will be developed further and synergy and growth potential will be realized.

SPS expects profit of 140 million

According to SPS, the deal is based on an enterprise value of Wincasa of CHF 235 million. The real estate group expects a non-operating pre-tax book gain of CHF 140 million from the sale. René Zahnd, CEO of Swiss Prime Site, says: "The sale of Wincasa and the discontinuation of Jelmoli's operations from the end of 2024 create a maximum streamlining of our company. We are now focusing on our first-class real estate portfolio and high-growth asset management."

The Wincasa brand remains

Wincasa manages more than 250,000 properties and is represented by 1,350 employees at 33 locations throughout Switzerland. Wincasa will be managed as an independent business unit within the Buildings Division, and the brand will remain, Implenia said. The new owner expects a positive annual EBIT contribution of around CHF 15 million from 2024 and initial synergy effects from now on. The full annual synergy potential in the Group is CHF 5 million, or CHF 10 million from 2027, Implenia said. (ah)