Swiss Life Asset Managers is acquiring Condecta Ltd – a “modular construction pioneer” in Switzerland – from Paragon Partners for one of its infrastructure funds.
Condecta will use finance to expand its geographical presence and range of products.
Swiss Life AM has concluded a binding agreement for a full takeover of Condecta Ltd.
Condecta makes space solutions, container systems, sanitation systems, construction machinery, construction equipment and wastewater treatment systems. It was founded in 1959.
The firm has a network of locations in Switzerland, Germany and Italy and all 220 employees are being kept on. Equally, no changes are being made to Condecta’s management team.
All parties agreed not to disclose the sale price.
Gianfranco Saladino, head of value-add infrastructure at Swiss Life AM, said: “The Swiss market for modular space rental solutions has potential, particularly in the fields of public services, industry, construction, architecture and the private sector, which all require high-quality, modular building solutions. Condecta, which is known for the premium Swiss quality of its products, is well-placed to meet the rising demand for such solutions.”
