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August 14, 2020Press Release

Advent International invests in Aareon AG

Frankfurt and London, 14 August 2020 – Advent International (“Advent”), one of the largest and most experienced global private equity investors, today announced that it has signed an agreement to acquire a 30% stake in Aareon AG (“Aareon”), a subsidiary of Germany’s Aareal Bank Group and a leading pan-European provider of innovative software solutions for the real estate sector.

Aareon offers its 3,000 customers software and digital solutions to help them manage more than 10 million real estate units. Aareon is represented in 40 locations, 15 of which are in the DACH region. The company employs over 1,700 staff, more than one third of whom are based outside of Germany. The software specialist has been on a continuous growth path for more than a decade.

Jeff Paduch, a Managing Partner at Advent International, added: “We look forward to partnering with both the Aareon management team as well as Aareal Bank. This deal plays to Advent’s strong track record in bank partnerships, DACH regional investing and supporting European software & technology businesses.”

Ranjan Sen, Managing Partner and head of Advent International in Germany, said: “”Aareon is a pearl in the technology sector, with a long tradition in Germany and an extensive presence throughout Europe. We believe that it is well positioned to take advantage of consolidation opportunities in an industry where digitalization is still in its infancy.”

Dr Manfred Alflen, Chairman of the Management Board of Aareon, added: “The partnership agreed upon between Aareal Bank and Advent presents a great opportunity for Aareon to substantially accelerate its own growth plan and thus write the next chapter in its success story. With the backing of two strong shareholders with a long-term view, we are confident we will evolve Aareon into an even stronger partner to its clients, an even more attractive employer for present and future talent, and an even better home for acquired businesses.”