AUSTRALIAN-based Unispace has been acquired by multinational private equity firm PAG, in a strategy to accelerate workplace expert’s growth trajectory.
“Unispace is a growth-focused business, and PAG supports our strategy and will be a part of the continued and accelerated growth journey,” said Steve Quick, CEO of Unispace.
Per the agreement, Unispace shareholders will leave their executive roles and sell 100% of the privately held company to PAG.
Senior executives and management will retain their positions, while non-executive board members will be appointed by PAG.
“Celebrating this investment on our 10-year anniversary really shows how far this business has come – and quickly. We believe PAG is the ideal partner for us as we enter the next phase of business maturity. This move will help us realise our growth potential through new markets, and by leveraging PAG’s extensive global networks, specifically in key Asian growth markets,” added Quick.
Unispace is taking advantage of the current landscape of uncertainty in workplace strategy, design and construction, as COVID-19 changes the way companies and their workers operate.
Unispace has leveraged its Propeller future of work framework, which emphasises a “human-centred environment organised around experiences rather than tasks”, as well as its use of predictive analytics to model occupancy levels.
“We are pleased to be partnering with Unispace and we’ve been impressed with their ability to create a leading workplace design and build company with a unique global footprint. Our investment will facilitate Unispace’s plans for further global expansion and build on an already successful business. We believe our extensive experience in real estate and property management investments will bring tremendous value to support the growth of Unispace,” said Weijian Shan, chairman and CEO of PAG.
Unispace currently has operations in 48 locations and 27 cities, with major clients including Facebook, Coco-Cola Amatil, Herbert Smith Freehills and Boston Scientific and is currently primed for expansion across the Asia Pacific.
“Together we are poised to continue driving disruptive change and set the standard for global workplace strategy, design and construction,” said Rob Aird, APAC managing director of Unispace.