Investment mogul acquires control of Engel & Völkers, influencing our online platform
Engel & Völkers Embraces Digital Future with Permira Investment
In a significant move, luxury real estate company Engel & Völkers has welcomed financial investor Permira as a majority owner. This development, set to take place in the fourth quarter, marks a new chapter for the company founded in Hamburg in 1977.
With a proven track record of investing in various German brands, including Hugo Boss, Takko Fashion, Flixbus, Rodenstock, and Premiere, Permira brings a wealth of experience to the table. This investment will propel Engel & Völkers towards its ambitious goals.
Engel & Völkers aims to achieve over 1 billion euros in commission income by the end of the year. To support this growth, the company plans to increase the number of real estate advisors to 20,000 by 2026. This expansion is expected to be facilitated by Permira, as the investment firm will become the majority owner of Engel & Völkers.
The strategic partnership between Engel & Völkers and Permira will focus on several key areas. Under the continued leadership of Christian Völkers, Engel & Völkers will develop new areas such as real estate financing brokerage and introduce innovative offerings like a platform for real estate crowd investing and "Liquid Home," which enables partial property sales through a licensed entity.
To meet evolving market demands, including those highlighted during the COVID-19 pandemic, Engel & Völkers will integrate digital tools such as virtual property visits to maintain customer engagement and service quality. The company also plans to accelerate its digitalization, with Permira's investment playing a crucial role in this endeavour.
With approximately 40% of the shares remaining with the Völkers family and the two current CEOs, Sven Odia and Thilo von Trotha, the company is well-positioned for growth. Sven Odia will continue in his role as the chairman of the board of Engel & Völkers.
Engel & Völkers also plans to expand into more countries, including the UK, with Permira's investment. Users who have subscribed to Engel & Völkers' updates are advised to check their spam folder if they have not received the confirmation email. To activate the subscription, simply click the button inside the confirmation email.
In addition, Christian Völkers, Jörg Rockenhäuser, and David Brückmann from Permira will join the supervisory board of Engel & Völkers. This strategic alignment is expected to drive the company's growth and digitalization strategy, ensuring a bright future for Engel & Völkers in the competitive real estate market.
Engel & Völkers, in its pursuit of over 1 billion euros in commission income, is expected to be facilitated by Permira, the new majority owner, as the investment firm brings resources for expanding the real estate network to 20,000 advisors and venturing into other areas like real estate financing brokerage and crowd investing.
With the strategic partnership, Permira will aid Engel & Völkers in its digitalization efforts, including the integration of digital tools for customer engagement and the acceleration of its digital transformation, both crucial for maintaining a competitive edge in the ever-evolving real estate market.
