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March 3, 2021

Unispace acquired by PAG

Heralding a new decade of significant growth with an acquisition agreement with a leading private equity firm.

2021 is a big year for Unispace. In a moment when global business is captivated by the future of work, Unispace is revolutionising the creation of workplace for our clients. To enhance our ambitious growth plans, we are being acquired by PAG, a leading private equity firm. PAG manages US$40 billion in assets for more than 150 institutional investors from around the world. It has key offices in Tokyo, Hong Kong, Shanghai, Sydney, Seoul, Singapore, Geneva, London and Mumbai.

The move comes after 10 years of disrupting workplace creation. Today, we continue to meet the pace of change by partnering with our clients to create and deliver agile work environments for ever-evolving global brands. We’ve seen significant and successful growth over the past decade with over 5,500 workplace projects completed, presence across 26 countries, and 600+ employees worldwide.

A post-Covid workplace landscape

Coronavirus has transformed the workplace landscape and the way people work. We have led the way in guiding our clients’ future office strategies with our Propeller framework for the future workplace. We’ll continue to develop in EMEA while looking towards significant expansion across key Asia and US markets.

Global synergy with PAG

Our unique global footprint, approach and rapidly expanding client portfolio attracted the interest of PAG. PAG has a track record of investing in companies in our landscape and holds a significant real estate portfolio. With deep expertise in real estate, and in Asia – one of our declared target expansion areas for some time now, there’s a lot of synergy in this partnership.

PAG Chairman and CEO, Weijian Shan, explained why Unispace represents such an attractive investment proposition: “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.

“Above all, our team has worked with and has a deep respect for Steve Quick and we are looking forward to working with Steve and his management team to expand and grow the business.”

Steve Quick, Unispace’s Global CEO, is delighted with the deal. “PAG understands our business and supports our ambitions. We believe they’re the ideal partner for us as we enter the next phase of business maturity. An investment in our business and our people is ultimately an investment in the quality of projects we deliver to our clients.”

A new era of growth for Unispace

While PAG won’t take an active role in the day-to-day management of Unispace, their support will give us the benefit of superb strategic know-how. Their acquisition of Unispace will provide new avenues for business and invaluable global network connections, especially in Asia.

While of course retaining our strong presence in Australia, where Unispace began, we will enter new markets globally with a focus on North America, while continuing to invest in Asia and Europe.

It's business as usual for our clients and projects

For our clients, it will be business as usual – plus some extra benefits to come following PAG’s investment. This will allow us to accelerate our growth plans, enabling us to offer a richer, broader service offering in one seamless, end-to-end experience, in even more locations.

Evolving our growth and expansion plans during the pandemic

While this is a challenging time, life – and business – must go on. Since the pandemic hit, Unispace has partnered with our clients to navigate the coronavirus crisis. This included tools and work-from-home solutions during lockdown periods and our industry-leading Propeller future of work framework. Our approach and leadership have strengthened our existing client relationships and expanded our portfolio, which in turn has provided the opportunity to expand our growth with PAG.

Find out about our story of growth over the last decade.

Read coverage of the acquisition below:

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