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Bain Capital buys Apleona from PAI Partners

Global private investment firm, Bain Capital, has acquired Apleona from PAI Partners, a pre-eminent private equity firm.

The investment was made by a consortium led by Bain Capital’s Private Equity team in Europe and will support Apleona’s continued growth and development into Europe’s leading integrated facility management group.

Apleona, based in Neu-Isenburg near Frankfurt, has a strong technical expertise and an international presence. The company provides high-quality, innovative services to regional and large, cross-border customers, addressing the increasing demand for ESG solutions and products that reduce energy consumption and CO2 emissions in buildings.

Under PAI’s ownership, the company has grown significantly and reached four billion euros in revenue for the first time in 2024. Apleona is expanding its European platform and driving the digital transformation of its services, for example by investing in data and AI-based control systems for heating, ventilation and air conditioning (HVAC) systems and predictive maintenance of building technology. In support of this strategy, Apleona has acquired and successfully integrated 14 strategic acquisitions in Europe, including the transformational acquisition of Gegenbauer Group in 2023.

Dr. Jochen Keysberg, CEO of Apleona, said: “Under Bain Capital’s ownership, Apleona will remain an independent company, supporting its position as a leader in integrated facility management with advanced self-delivered technical and digital expertise and sustainable solutions for the decarbonisation of buildings. We would like to thank PAI for its strong support and partnership since 2021. We will continue to grow Apleona through acquisitions, expand our service offering and regional coverage in Europe, and leverage AI, digital solutions and automation for the benefit of our customers.”

Dr. Michael Siefke, Partner & Chair of Europe Private Equity at Bain Capital, said: “Apleona is one of Europe’s leading facility management companies and has undergone an impressive transformation in recent years. For the last years, we have been actively looking to invest in companies decarbonising buildings and are proud to partner with Apleona supporting the company in its next phase of growth and development. Apleona will continue to drive growth with the global resources of Bain Capital and the extensive experience of our industry team.”

Ralph Heuwing, Partner & Head of DACH at PAI Partners, said: “We are pleased to have successfully supported Apleona’s strong growth over the last four years and to have guided its transformation into the leading European provider of integrated facility management – a classic PAI investment in the Real Economy. Thank you to Apleona’s management team for the excellent partnership. With a strong European platform, a comprehensive range of services and clear leadership in sustainability and decarbonisation, Apleona is well positioned to continue its success in the years to come.”

The transaction is subject to customary closing conditions, including regulatory approvals.

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