The Tenant Solution joins Parella
Parella confirms its internationalization strategy by announcing the acquisition of TTS (The Tenant Solution), the Spanish leader in corporate real estate consulting and office design 100% dedicated to users.
Following the acquisition of Dutch company Solved in early 2020, Parella is continuing its internationalization strategy by acquiring its Madrid-based partner. Created in 2017 by partners with more than 20 years of combined experience in corporate real estate, The Tenant Solution (TTS) now has about 20 employees exclusively serving corporate real estate users.
The company works with clients as varied as Sanofi, Atos, Econocom, Tripadvisor, Goodyear, Last Minute, Consolis, Antalis, Ibermatica and Bose throughout the Iberian Peninsula (Spain and Portugal). Like Parella, TTS helps its clients to deploy their real estate strategy (real estate research, negotiations) in complete independence from lessors, and to fit out their offices (Design & Build offer).
"We want to develop the first pan-European platform of services in commercial real estate dedicated to the accompaniment of companies using professional real estate. We have been working with TTS for several years to support numerous French groups in Spain and Portugal. We find the values and DNA of Parella in the TTS partners. With this first-rate team, we are able to offer our clients a fully integrated quality service in Spain and Portugal," says Ludovic Boisseau, Parella's Managing Director.
"We have been partners with Parella for several years as part of the Exis Global network. We share the same vision and the same ambition to best serve the interests of occupying companies. The acceleration of the transformation of working methods reinforces the real estate consulting model integrating workplace know-how. What's more, on an international scale," says Eusebio Caballero, CEO of TTS.
After this acquisition, the Parella Group has 150 employees and expects to achieve a turnover of €50 million in 2022. Other acquisitions are planned between now and the end of 2022-beginning of 2023, in France and in the rest of Europe.
Since its creation in 2009, Parella's sole mission has been to assist companies with their real estate projects, office layouts and the transformation of their working methods, by providing them with expert, transdisciplinary advice that is independent of real estate investors.
In this transaction, the due diligence was carried out by Kanberi (Hugo Azerad) for the strategic part and by RSM for the financial part.
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