POLAND Catella takes in WPP in Polish debut

Property and Facility Management

09 May 2022

Opr./edited by NN

WPP’s managing directors Jacek Wachowicz (CEO), Christian Fojtl and Bartosz Bzoma will continue to run the company following the takeover

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Swedish property investment and fund manager Catella has entered Poland through the majority acquisition of Warsaw Property Partners.

Catella has agreed to acquire 65 pct of WPP for around SEK 40 mln (app. EUR 3.76 mln or PLN 17.63 mln). WPP is an independent real estate investment asset and development management company operating exclusively in the Polish market, with assets under management of more than PLN 880 mln and 18 employees.

Christian Fojtl, Jacek Wachowicz and Bartosz Bzoma, the managing directors of WPP, will remain shareholders and have committed to the company for at least another five years. It will continue to be run by its current management team.

We are delighted to have agreed to enter a partnership with the managing directors of WPP and we look forward to continuing to develop WPP together with its partners and employees. Poland is a key strategic market for us, where we see potential property development opportunities and significant investment management synergies across the group. With the acquisition of WPP, we get a highly skilled team with a strong track record and an exceptional knowledge of the Polish real estate market, who now will have a much increased ability to grow with Catella’s capital supporting their ambitious plans. The acquisition ties into Catella’s growth strategy through partly-owned companies alongside local partners, which ensures commitment by local management and financial incentives that are aligned with Catella’s overall goals.
Christoffer Abramson, the president and CEO of Catella

The transaction is expected to be completed in Q2 2022.

We are excited about becoming a part of the Catella Group. Today, WPP is an agile, well-established real estate company serving the Polish market. By joining Catella we can add additional value and growth through Catella’s pan-European real estate infrastructure. We are confident that the combination will be successful and result in a strong asset management and development capabilities ready to serve both local as well as Catella’s internal and international clients.
Jacek Wachowicz, the CEO of WPP

Catella has operations in 14 countries and over EUR 12 bln in assets under management. It is listed on the Nasdaq Stockholm exchange.