Boston – Unispace, a firm specializing in workplace strategy, design and construction, announced it has finalized a transaction with major multi-national private investment firm PAG for the sale of the company.
The move comes after a decade of significant and successful growth for Unispace, triggering an assessment of the company’s value by its shareholders and also attracting the interest of PAG.
Until now, Unispace was privately held. The sale of Unispace shares will see current shareholders leave executive roles in the company. Other senior executives and management, including recently appointed chief executive officer, Steve Quick, will remain with the company in their current roles, with additional non-executives to be appointed by PAG to support Unispace’s ambitious expansion plans.
Unispace is primed for expansion U.S. markets – including New York City, Chicago, San Francisco, Seattle and Boston – and new business areas, and this move is designed to accelerate growth domestically and abroad as owners and tenants continue to transition out of the COVID-19 pandemic. PAG’s extensive global property portfolio and relationships, including its investment in Cushman & Wakefield, will support Unispace’s global growth ambitions. Additionally, the private equity firm holds deep knowledge of Asian real estate markets – a key expansion area for Unispace – particularly China, India, Hong Kong and Singapore.
“At a moment when companies around the world are looking ahead to what the future of workplace means for their business, longer-term business planning means being able to build our teams to prepare for our clients’ needs even further ahead of time,” Quick said. “By strengthening our business with an investment partnership, we will be able to support our global clients with deeper leveraging our integrated approach to strategy, design and construction.”