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Kintyre acquires strategic stake in Pacon Real Estate

Kintyre has acquired a strategic shareholding in technical solutions provider Pacon Real Estate GmbH to boost vertical integration and optimise its managment platform for the benefit of clients and investment partners. Based in Heidelberg, Pacon Real Estate is a provider of technical services for facility management and construction, as well as consulting. The firms agreed to keep all financial details of the transaction confidential.

Kintyre Managing Partner Johannes Nendel said the equity stake will help optimise the management platform of Kintyre’s growing client asset base around Germany, implementing efficiency and management control.

“We have opted to buy a 20% take in pacon in order to add onsite technical solutions to the list of services Kintyre provides to clients, effectively keeping these solutions in-house,” Johannes Nendel said. “At the same time we don’t want to be managing a team of 50 technicians, distracting us from our core management expertise as we grow client portfolios.”

The move follow Kintyre's impressive growth in 2016 in which assets soared by 22% to over €700m in value managed across 110 properties in Germany.