Swiss Life Asset Managers takes over Condecta

Swiss Life Asset Managers has reached a binding agreement with Condecta AG on a complete takeover of the modular construction specialist from Winterthur, Swiss Life Asset Managers announced in a press release. The asset manager of the Swiss Life Group, which specializes in real estate and infrastructure, intends to expand Condecta's presence and offering. The Winterthur-based company is currently represented in Switzerland, Germany and Italy.

The two partner companies have agreed not to disclose the purchase price."The Swiss market for rental solutions in the modular space sector has potential, particularly in the public sector, industry, construction, architecture and the private sector, which require high-quality modular building solutions," said Gianfranco Saladino, Head Value-Add Infrastructure at Swiss Life Asset Managers, in the press release.

"Condecta, known for its high Swiss quality, is well positioned to meet the growing demand." According to Condecta CEO Olivier Annaheim, the company has found "the perfect new owner in Swiss Life Asset Managers to drive forward our growth and innovation plans and further expand our market leadership in the area of room systems in Switzerland".

For Matthew Dooley, Investment Director at Swiss Life Asset Managers, Condecta is "complementary to Swiss Life Asset Managers' extensive real estate and infrastructure business in Switzerland". ce/hs