Arma Partners advises Advent International and Aareal Bank on the $4.15bn sale of Aareon to TPG and CDPQ

Arma Partners is pleased to announce that it has acted as lead financial advisor to Advent International and Aareal Bank on the sale of Aareon, a portfolio company of Advent and subsidiary of Aareal Bank, to TPG Capital and CDPQ for an enterprise value of c.$4.15bn. Advent will continue its involvement in Aareon with the investment of new equity for a minority interest in the company.

Headquartered in Mainz, Germany, Aareon provides a Property Management System to promote efficient and sustainable property management and maintenance. The company’s portfolio of solutions enables seamless, automated end-to-end processes connecting property managers and owners across the residential and commercial real estate sectors.

Advent originally invested in Aareon in 2020 and has worked with Aareal Bank to support the leadership team of Aareon in their successful transformation. Benefitting from organic and inorganic investments in the business’s product suite and geographic footprint, this transformation has culminated in one of Europe’s largest software buyouts in 2024.

This transaction underscores Arma Partners’ continued leadership position in vertical software and consistent track record of successfully advising global private equity investors on landmark multi-billion transactions. Arma Partners advised Aareal Bank on the original sale of a stake in Aareon to Advent in 2020. This transaction also illustrates Arma Partners’ commitment to developing long-term relationships.