TA Associates has agreed to acquire a 25 percent stake in Foncia, while Partners Group will continue to hold a majority stake in the company on behalf of its clients. Partners Group, a global private markets firm, is expanding the shareholder base of Foncia, a provider of residential property management services in Europe.

Philippe Salle, chief executive officer, Foncia, commented, “Foncia has grown significantly in recent years, both at home and internationally. A key focus for us now is to finalize the digital transformation of our operating model to improve customer service, cross-selling, and organic growth, while laying the groundwork for further expansion. Partners Group’s entrepreneurial governance and platform-building experience has been crucial to our sustainable growth and we are delighted to continue working with them, whilst welcoming our growth-focused new partner TA Associates on board.”

Kim Nguyen, partner, co-head private equity services, Partners Group, said, “When we invested in Foncia, our vision was to transform the Company into the tech-enabled forerunner in property management services. In just five years, we have grown Foncia into the leader in Europe through an acquisition-led strategy, and have significantly invested in its technological capabilities to build a business that is becoming the reference point in terms of service quality and efficiency. We have laid the foundation to secure the long-term future of Foncia, and, as such, are of the firm belief that the Company has compelling growth and value creation potential ahead. With this re-underwriting, we look forward to supporting Foncia through its next stage of development.”

Patrick Sader, managing director, co-head EMEA services group, TA Associates, said, “We believe that Foncia is uniquely positioned to consolidate the large and highly fragmented European residential real estate services market. We have followed the company for many years and are truly impressed by the work that Philippe Salle and his team have done. The combination of its quality revenue model and best-in class technology should enable Foncia to deliver superior customer service while enjoying sustained growth. We are excited to join Partners Group on this journey and to support Foncia in its next transformation phase.”