Redevco acquires a majority stake in redos as a first step towards creating a pan-European retail warehouse park platform
May 3, 2022
- Acquisition is aligned with Redevco’s mission to be a trusted partner in creating more sustainable and liveable cities
- Redevco’s assets under management (AuM) increase from €6.7 to almost €10 billion
- redos to maintain operational independence and senior leadership to remain in place
Amsterdam, May 3, 2022 – Redevco, one of Europe’s largest privately-owned real estate investment managers*, has acquired a majority stake in redos, the Hamburg-based large-scale retail and urban logistics property investment specialist.
Founded in 2004, redos has a strong reputation in Germany as a trusted operator of retail warehouse parks and convenience retail sites. In addition, redos has a growing urban logistics business which allows for an integrated approach to servicing urban areas.
The acquisition strengthens Redevco’s market position, especially in the highly attractive and resilient retail park segment and boosts its assets under management (AuM) from €6.7 billion to approximately €9.7 billion.
Andrew Vaughan, CEO Redevco: “Through the acquisition of redos, we are significantly growing our assets under management and the ability to realise our mission to help cities and urban areas become more sustainable and liveable. The acquisition of such a stellar performer in Germany provides Redevco with an excellent foundation to create a pan-European retail warehouse park platform, and a springboard into urban logistics.”
redos will retain its operational independence and experienced senior leadership, including CEO Oliver Herrmann, who remains as minority shareholder, and CFO Carsten Wimmer.
Oliver Herrmann, CEO redos: “We are delighted to team up with Redevco as we share the same vision and values. Both companies put sustainability at the forefront of our strategies to be a driver for positive change in the respective areas we focus on. Joining forces by combining our expertise in large-scale retail and urban logistics properties in the German market with Redevco’s international scale, long-term approach, and financial power, significantly strengthens our leading position in the retail park arena and provides a solid basis for future growth in close cooperation with our existing investor clients.”
Growth & diversification
In 2020 Redevco embarked on an ambitious expansion programme to grow and diversify its portfolio to around €10 billion as a means of helping cities and urban areas become more sustainable and liveable. In addition to further opening up its pan-European investment platform to like-minded investors Redevco also looks at alternative ways to grow, including third party asset management mandates and acquisitions of companies and their portfolios.
Herman Jan Faber, Head of Business Development Redevco: “Our acquisition of redos is an important first milestone in our growth strategy, focused squarely on cities and urban areas. Through redos’ complementary capabilities we can extend our investment offering across different sectors. Redevco’s acquisition of redos is just the first step, and we are actively looking at potential joint venture opportunities and further acquisitions, in line with our strategy and mission.”
Redevco was advised on this transaction by financial advisor PWC and legal and tax advisor Clifford Chance. redos was supported by M&A advisors Pestlin & Co., and legal advisor REIUS Rechtsanwälte, Hamburg.
* Redevco is not licensed or registered in the EEA for the provision of regulated portfolio management services.