| The acquisition signals a shift in VPS’s centre of gravity from the UK to Europe |
The Vacant property management experts Orbis’ CEO, Guy Other, responded to the acquisition of VPS. On 25 June 2014 PAI Partners SAS, one of France’s largest private equity firms, announced that it had agreed to buy the UK and European operations of vacant property management firm VPS Holdings from TDR Capital, another private equity firm. TDR Capital, which acquired VPS in 2010, is believed to be retaining the company’s US operations.
The news perhaps signals a shift in VPS’s centre of gravity from the UK, where its headquarters is based, to Europe. PAI, which has offices across Europe including Paris, Luxembourg, Madrid, Milan, Munich and Stockholm, concentrates exclusively on pan-European deals and although around half of VPS’s business is in the UK, Europe is likely to be the new owner’s focus. Hopefully the acquisition of VPS, by another private equity firm, does not imply more short-term thinking, with a focus on the next three to four years, rather than a more long-term strategic approach offered by non-equity firm buyers.
However we welcome the news that VPS, which has long been looking for a new purchaser, has found an investor, and look forward to working with the new owners in the competitive vacant property management marketplace.