EQT AB Acquires Exeter Property Group to Create EQT Exeter
January 26, 2021
EQT AB completed the $1.87 billion combination with Exeter Property Group, acquiring Exeter's management company and carried interest stakes and combining the businesses under the EQT Exeter brand. Consideration comprised approximately $800 million in newly issued EQT AB shares and $1,070 million in cash (including refinancing of existing Exeter debt); Exeter management received a mix of shares and cash and will join EQT leadership. The deal expands EQT's real estate capabilities and geographic footprint across North America and Europe.
- Buyers
- EQT AB
- Targets
- Exeter Property Group
- Sellers
- TA Associates (funds), Ward Fitzgerald and other Exeter management shareholders
- Industry
- Real Estate
- Location
- Pennsylvania, United States
- Transaction Type
- Buyout
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