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2021 was the "Year of the #SmartBuilding SPAC" when 9 companies completed a business combination. So what does that make 2022? We have analysed 17 companies, that fit our definition of a PropTech business, to determine what their financial performance looked like in 2022 and what we might expect to happen in 2023 and beyond. Our analysis consists of 11 companies that completed their SPAC business combination in the last 2 years (including one that has now filed for protection under chapter 11 in the US), 3 companies that failed to complete their business combination in 2022 and a further 3 that have one planned for 2023. The table below compares 3 financial metrics across these 11 public companies. The percentage change in their share price since the beginning of 2022, revenue through the first 3 quarters of 2022 and net profit in the same period. For fairness, we discluded Quanergy from the share price […]
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In this Research Note, we examine Kieback&Peter, one of the long-established German manufacturers and systems integrators of building automation solutions and services. This analysis is based on last month’s publication of their annual company accounts. We also highlight their recent product launches, the planned new headquarters, and a 2025 acquisition. Kieback&Peter GmbH & Co. KG […]
In this Research Note, we examine CBRE’s recent announcement of the creation of a new Building Operations & Experience business segment, in conjunction with the acquisition of Industrious, a US provider of flexible workplace solutions. We assess the changes to the former Global Workplace Solutions business and comment on the Industrious acquisition and the state […]
This Research Note explores what’s behind Yardi Systems’ recent acquisitions of Hubble and Deskpass in the coworking sector. We focus on Yardi’s strategic rationale for acquiring these two firms, the company’s prior acquisitions in the sector, and the current state of coworking in the office market. Yardi Profile Founded in 1984 by Anant Yardi and […]
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