Aareon acquires Arthur
Aareon has acquired Arthur, a cloud-native SaaS solution which enables property managers, landlords and agencies to control their property portfolio anytime, anywhere, with a dedicated suite of apps.
Closing is planned for 29 January 2021.
Aareon AG is a subsidiary of Aareal Bank AG, which holds 70 per cent of the shares, while 30 per cent of the shares are held by Advent International.
Arthur, a London-based company, offers a best-in-class SaaS property management solution which brings together Property Managers, Property Owners, Tenants and Contractors in one single platform. Via its suite of integrations Arthur streamlines its clients’ property management processes from start to finish. The company, launched in 2015, has over 1,000 clients managing ca. 90,000 units.
Dr Manfred Alflen, the CEO of Aareon AG, says: “By acquiring Arthur, we have taken another step in our profitable growth strategy and are entering the market of small and medium-sized property managers in Great Britain. Arthur will continue to support its customers as an independent brand and help Aareon move forward with its expansion.”
Marc Trup, the CEO of Arthur, says: “The acquisition of Arthur by the Aareon Group, presents a massive opportunity for us to further improve our service offering to property professionals across various attractive growth markets.”