Advent International invests in Aareon AG

  • Aareon is a leading pan-European system of record software platform for real estate owners and property managers majority owned by Aareal Bank
  • Advent will act as a strategic partner to Aareal Bank, leveraging its expertise of partnering with banks, experience of investing in the DACH region and software operational support to help grow Aareon

Frankfurt and London, 14 August 2020 – Advent International (“Advent”), one of the largest and most experienced global private equity investors, today announced that it has signed an agreement to acquire a 30% stake in Aareon AG (“Aareon”), a subsidiary of Germany’s Aareal Bank Group and a leading pan-European provider of innovative software solutions for the real estate sector.

Aareon offers its 3,000 customers software and digital solutions to help them manage more than 10 million real estate units. Aareon is represented in 40 locations, 15 of which are in the DACH region. The company employs over 1,700 staff, more than one third of whom are based outside of Germany. The software specialist has been on a continuous growth path for more than a decade.

Jeff Paduch, a Managing Partner at Advent International, added: “We look forward to partnering with both the Aareon management team as well as Aareal Bank. This deal plays to Advent’s strong track record in bank partnerships, DACH regional investing and supporting European software & technology businesses.”

Ranjan Sen, Managing Partner and head of Advent International in Germany, said: “”Aareon is a pearl in the technology sector, with a long tradition in Germany and an extensive presence throughout Europe. We believe that it is well positioned to take advantage of consolidation opportunities in an industry where digitalization is still in its infancy.”

Dr Manfred Alflen, Chairman of the Management Board of Aareon, added: “The partnership agreed upon between Aareal Bank and Advent presents a great opportunity for Aareon to substantially accelerate its own growth plan and thus write the next chapter in its success story. With the backing of two strong shareholders with a long-term view, we are confident we will evolve Aareon into an even stronger partner to its clients, an even more attractive employer for present and future talent, and an even better home for acquired businesses.”

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 350 private equity transactions in 41 countries, and as of March 31, 2020, had €44 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 200 investment professionals across North America, Europe, Latin America, and Asia. The firm focuses on investments in five core sectors, including business and financial services; healthcare; industrial; retail, consumer and leisure; and technology. After 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

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About Aareon AG

Aareon, a wholly owned subsidiary of the Aareon Bank Group, Wiesbaden, is the leading provider of consulting and system services for the European property industry and its partners in the digital age. The Aareon Group provides its customers with ground-breaking and secure solutions in the fields of consulting, software and services to optimise IT-based business processes and expand business models. The international transfer of knowledge within the organisation, user-centric development methods and collaboration with PropTech companies support the continued development and expansion of the Aareon Smart World portfolio. Aareon’s own venture company develops ideas for new services and business models together with the start-up community. Around 3,000 clients of the technology leader manage more than 10 million units across Europe. The Aareon Group is an international company with 40 locations, including 15 in DACH region. In addition to offices in DACH region, the company has representative locations in Finland, France, Great Britain, the Netherlands, Norway and Sweden. Aareon operates its own development company in Romania. The Aareon Group employs over 1,700 people, more than one-third of them outside Germany. In 2019, Aareon generated revenue of around €251.9 million and operating income (EBIT) of €38.8 million.

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Media contacts

Advent International

Graeme Wilson / Harry Cameron / Sophia Martin-Pavlou
+44 20 7353 4200

Jobst Honig, 0171-8629 967
Olaf Zapke, 0170-7641 971

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