The property and FM businesses are both based in Cologne – Shutterstock
Savills has announced its proposed acquisition of property and facilities management companies in Germany in its continued its expansion of this service line across Europe.
OMEGA Immobilien Management GmbH and OMEGA Immobilien Service GmbH are headquartered in Cologne, have 100 employees and are run by Martin Herkenrath, Regina Jones and Thorsten Neehuis, who will retain key roles in the business.
The property and facilities management providers service offices, retail centres, residential complexes and car parks of all sizes across the republic. The transaction is expected to close in Q3 following clearance from the Bundeskartellamt – the German competition authority.
James Sparrow, CEO of Savills UK & EMEA, said: “Our German business continues to go from strength to strength and this was a great opportunity to add a well-established property and facilities management specialist to complement our existing areas of client service in Europe’s largest economy. This further supplements our strong European property management network.”
Globally, in 2019 Savills generated more than 35 per cent of its revenue from its property and facilities management business and continues to expand this service line across Europe.