Partners Group, a leading global private markets firm, is expanding the shareholder base of Foncia, a European leader in property management services. TA Associates will acquire a 25% stake in Foncia, while Partners Group will continue to hold a majority stake.
Partners Group acquired France-headquartered Foncia in 2016 and has since expanded the Company's market leadership in France and internationally with over 260 acquisitions. Foncia provides a range of services primarily to residential property owners and tenants, including joint property management, lease management, letting, and brokerage services. The Company also offers a range of ancillary, digital, and B2B services, such as diagnostic solutions and B2B property management.
Foncia employs approximately 12,000 people and manages a portfolio of 2.5 million individual residential units across France, Germany, Switzerland, Belgium, and Luxembourg.
Following this recapitalization, Partners Group will continue to lead the expansion of Foncia's platform across Europe and complete its digital transformation.
Latham & Watkins advised Foncia’s historical shareholder Partners Group with a corporate team led by partner Olivier du Mottay, assisted by associates Louise Gurly, François Blanchet and Morgane Chaloin. Partner Michel Houdayer with Olivier Stefanelli advised on financing aspects.
Latham & Watkins also advised TA Associates on its top acquisition structure and co-investment arrangements with a corporate team led by partner Gaëtan Gianasso and London partner Paul Dolman. Partner Mathilde Saltiel advised on antitrust aspects and partner Xavier Renard advised on tax aspects. Co-counsel Willkie Farr & Gallagher advised on due diligence and M&A aspects with a team led by partners Eduardo Fernandez and Grégoire Finance.