Implenia takes over Wincasa
Implenia is buying out Winterthur-based Wincasa AG, which belongs to the Swiss Prime Site Group. The acquisition is intended to expand Implenia's range of real estate services. The construction and real estate company also expects synergies and growth.
Implenia, based in Opfikon, is buying the real estate services provider Wincasa AG, based in Winterthur, from the Zug-based Swiss Prime Site Group. A contract to this effect was signed on 29 March, Implenia announced in a statement. The construction and real estate company intends to pay the purchase price of CHF 171.6 million from cash generated in its operating business.
The integration of Wincasa will expand the range of services offered by Implenia’s Buildings Division. “We will benefit from Wincasa’s knowledge and customer relationships,” Implenia CEO André Wyss is quoted as saying in the statement. In addition, the construction and real estate company expects sales synergies and additional recurring income. Wincasa’s margin on operating profit (EBIT margin) of 10 per cent is expected to help increase Implenia’s profitability.
Wincasa manages over 250,000 properties at the time of the sale. The company will retain its established brand name under the Implenia umbrella, Implenia explains. Following the sale of its real estate services provider, Swiss Prime Site intends to concentrate on its own real estate portfolio and asset management. “The sale of Wincasa and the discontinuation of Jelmoli’s operations from the end of 2024 will create a maximum streamlining of our company,” Swiss Prime Site CEO René Zahnd is quoted as saying in the statement.