Acquisition of Polcom, Poland-based manufacturer and provider of modular solutions to the global hospitality sector, executed by Griffin Real Estate and Pimco.
CATEGORY
Investment Deal of the Year, CEE
Griffin and Pimco bought 70% stake in Polcom. Polcom Group is a dynamically growing provider of premium modular building systems and interiors with proven track record confirmed by numerous executed projects (over 10 projects in prestigious locations, such as London, New York, Seattle, Calgary, Barbados) for leading blue-chip international hotel chains. Value of hotel building systems and interiors delivered by Polcom Group exceeded EUR 65m and PLN 75m in 2017 and 2019, respectively.
Polcom Group delivered globally ca. 450 and 600 hotel rooms in 2017 and 2018, respectively.
Name of the deal
Acquisition of Polcom, Poland-based manufacturer and provider of modular solutions to the global hospitality sector, executed by Griffin Real Estate and Pimco.
The date of closing the deal
Late January 2019
Value of the transaction (in EUR)
Over PLN 1 billion
Yield
N/A
Seller, plus brief information about the company
Polcom is a Poland based-manufacturer and provider of premium modular solutions to the global hospitality sector with proven track record confirmed by numerous executed projects (over 10 projects in prestigious locations, such as London, New York, Seattle, Calgary, Barbados) for leading blue-chip international hotel chains. Since its founding in 1989, the originally family-formed company has developed into a leading fully-integrated modular construction company. The strategic objective is to establish the international footprint and to grow production capacity combined with institutionalizing the company.
Consultancy which advised Seller
PwC and Rothschild & Co
Purchaser, plus brief information about the company
Griffin Real Estate is the largest and most active investment manager in private equity real estate in CEE. Griffin originates and manages private equity- type investments into real estate-related companies and assets. Griffin invests on behalf of both its owners and its renowned international investors. The gross asset value of Griffin-managed investments across eight different platforms exceeds EUR 5 billion.
PIMCO (Pacific Investment Management Company) is one of the world’s premier fixed income investment managers. With its launch in 1971 in Newport Beach, California, PIMCO introduced investors to a total return approach to fixed income investing. PIMCO continues to bring innovation and expertise to its partnership with clients seeking the best investment solutions. Today the company has offices across the globe and 2,150+ professionals united by a single purpose: creating opportunities for investors in every environment.
Consultancy which advised Purchaser
Weil, Gotshal & Manges, Warsaw office
Financing institution
N/A
Current occupancy level
N/A
Please say why this deal should be considered for the award
Griffin, by acquiring the majority stake in Polcom, once again showed it is not afraid of exploring and entering new real estate sectors. Griffin has also proven its ability to find the most attractive and prospective investment opportunities.
