Engel and Volkers: The engine room is enlarged

Christian Volkers

“Since moving from the board of directors to chairing the supervisory board two years ago, I have been working extensively on digital strategy.”

(Photo: Engels and Folkers)

Hamburg The namesake is probably the most famous German real estate agent: Christian Volkers. At the beginning of August, the now 65-year-old founder and chairman of the supervisory board of brokerage firm Engel & Völkers brought in financial investor Permira. The fund paid an estimated $400 million for a 60 percent stake in the company.

In an interview with Handelsblatt, Völkers explains the background to the deal. For him, it is in no way about retiring to old age. Instead, he needed a new financially strong partner. Previous shareholders were shying away from making much-needed investments in the future, and many wanted to take the opportunity to exit anyway. “We need more and more technical know-how for more digitization to come. This is what investor Permira brings with him, who, for example, developed the Swabian Teamviewer IT company,” explains Volkers.

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