Mannheim, 24 June, 2020 Frankfurt-based MVGM, one of the five largest property management companies in Europe, has acquired the Mannheim-based property manager VIVANIUM. With this deal, MVGM is significantly expanding its property management activities in the German market: The acquisition of VIVANIUM adds around 2.2 million square metres of commercial space and 13,500 residential units to the approximately seven million square metres of commercial space that MVGM is already managing in Germany.
MVGM was supported in the purchase by the management consultancy firm Ritterwald and commercial law firm Oppenhoff. MVGM will take over the entire staff of 140 employees of the Mannheim-based property manager. VIVANIUM Managing Director Dirk Tönges will join Menno van der Horst as Managing Director of MVGM Deutschland, the parent company of the German MVGM Group, and, together with Thomas Schwarzenbacher, will also become Managing Director of MVGM Property Management Deutschland. VIVANIUM founder and Co-Managing Director Jürgen Heublein leaves the company.
Menno van der Horst, member of the board of MVGM, says: “With VIVANIUM we have acquired an established property manager with a very good reputation in the German market. With this acquisition, we are further advancing our growth strategy in the residential bracket in Germany. We are now located in 19 cities across the country. I have known Dirk Tönges for many years and am looking forward to working with him and the new colleagues to drive forward our quality leadership in property management.”
Dirk Tönges adds: “The merger with MVGM is coming at exactly the right time. Menno van der Horst and I share the view that high quality and a digitalisation strategy are crucial to successful property management. I will continue to drive forward both of these at MVGM and at the same time ensure further growth.”
MVGM has grown strongly in Germany in recent years: in addition to VIVANIUM, recent acquisitions include JLL Property Management and PropertyFirst. Only in May, VIVANIUM bought the shares it did not already own in Viva Dream.