This Research Note explores what’s behind the recent acquisition of Apleona, a German technical facility management business by Bain Capital, the European private equity firm. Our focus is on the strategic rationale of Bain Capital to acquire this firm, Apleona’s prior acquisitions in facility management, and its strategic investments in digital building services. Bain Capital Transaction Details European private equity firm, Bain Capital has agreed to acquire Apleona from private equity firm PAI Partners, in a deal with a reported value of around €4B ($4.2B). PAI Partners acquired Apleona from EQT in December 2020 for a total transaction value of approximately €1.6B. Apleona Profile Based in Neu-Isenburg near Frankfurt am Main, Apleona successfully closed the merger with Gegenbauer, another German facility and real estate service provider as of July 3, 2023, creating a European industry leader with 40,000 employees in more than 30 countries. Its core business is integrated facility management with a strong focus […]