Swiss Life acquires specialist for modular construction
The Winterthur-based company Condecta is the market leader in rentable room modules. According to the investment manager, the products are complementary to Swiss Life's real estate and infrastructure business.
Swiss Life Asset Managers acquires Condecta AG from Paragon Partners on behalf of one of its infrastructure funds. Condecta is a specialist in modular construction in Switzerland. According to its own statements, Condecta is the market leader in rental solutions for room modules that can be used as production and warehouse buildings as well as office and administration buildings or even classrooms and company nurseries. The modular products are also suitable for use as showrooms and stores, recreational and residential accommodation, medical treatment and accommodation rooms, as well as take-aways and canteens, among other things. Under the new ownership, Condecta plans to expand its geographical presence and broaden its product range. The company was founded in 1959, is headquartered in Winterthur and employs 220 people.
"Condecta is complementary to Swiss Life Asset Managers' extensive real estate and infrastructure business in Switzerland," says Matthew Dooley, Investment Director at Swiss Life Asset Managers. "At the same time, it is a company that invests in research and development to create innovative and sustainable products that contribute to the protection of the environment." (aw)
