Agreement reached. The global investment firm Permira has acquired a majority stake in Engel & Völkers, the real estate brokerage platform active in the premium segment. The Völkers family – who founded the company in 1977 – will retain a stake of almost 40% and the founder, Christian Völkers, will become president of the supervisory board. Engel & Völkers currently has over 11,500 real estate agents in 900 locations in 30 different countries, and in 2020, the group’s commission revenue increased by 14% to € 937.4 million.
Permira’s investment aims to support the company’s growth by digitizing the business model and entering new markets, such as the United States, Canada and the United Kingdom. Permira funds have a broad track record in investments in service companies, with € 10.7 billion invested in 40 companies offering proptech, financial and commercial services.
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“We are thrilled to support Engel & Völkers in this digital transformation journey and further accelerate growth by leveraging our proven track record in digitizing successful companies,” said Jörg Rockenhäuser, Permira managing partner for the German-speaking countries area. . The company has the ability to
significantly expand its ecosystem into a more direct and digital world ».
«Our main objective – said Christian Völkers – is to continue developing the company and innovating at all times. Together with Permira, we can further strengthen Engel & Völkers’ positioning as a global pioneer in the sector ». The company – said the CEO of Engel & Völkers, Sven Odia, expects that “the revenues from commissions will exceed one billion euros by the end of the year” and “with this impressive growth trajectory it is the ideal time to set the course for an even more solid future ».