The renovation backlog as a business
You look after 120 properties with GEG measures and subsidies, and demand is bigger than your team. You need a successor and capital for new people.
Does this sound familiar?
Two situations we know
Technical services alongside management
You run the technical unit of a management company that is being sold. You want the technical side to survive.
Your day-to-day, as we know it
This is what happens in your business before anyone talks about succession
Keeping track of inspection deadlines
Elevators, drinking water systems, smoke alarms and fire protection each have their own dates. A missed date quickly becomes a liability issue.
Three quotes
Before every resolution, the owners' association needs comparative quotes. Tradespeople reply late or not at all.
Site visit and report
The property inspection takes an hour, the report with photos and a list of measures often longer.
Lots of projects, little base load
A large renovation fills the year. Afterwards revenue is missing if there are no recurring contracts behind it.
How we measure your company
The metrics we look at in the first call
We look at the numbers you use to run your business yourself. The right column shows our acquisition criterion.
| Metric | What it tells us | Our benchmark |
|---|---|---|
| Share of recurring revenue | How much comes from ongoing service contracts. | The higher the share, the better. |
| Technicians and engineers on the team | Whether the professional assessment is done in-house. | Good if several specialists work alongside the owner. |
| Properties with a maintained inspection and maintenance calendar | How reliably the duty of care is documented. | We look for complete records per property. |
| Fee per renovation project relative to effort | Whether extra services are priced to cover costs. | Good if change orders are covered in the contract. |
| Own construction work or property development | Whether warranty risks sit in the business. | We do not buy property developer risk. |
What actually changes after the acquisition
Step by step
We automate the desk work. Professional decisions and customer contact stay with your people.
TodayTrack inspection and maintenance dates per property
With GTPDeadlines are monitored automatically and service providers are commissioned. The technician assesses defects from the inspection reports.
TodayWrite the site visit report with photos and a list of measures
With GTPPhotos and voice notes produce the draft report. The technician checks the assessment and urgency.
TodayObtain quotes and prepare a price comparison
With GTPRequests go out, and quotes are transferred into a comparison. The engineer gives the recommendation to the owners.
TodayCheck tradespeople's invoices against order and measurements
With GTPDeviations from the order are flagged. Technical acceptance stays with the technician.
Your systems stay in use:facilioocasaviiX-Haus
AI potential in the segment
How much desk work can really be automated here
This is GTP's assessment. We show it upfront so you can see what we will work with after the acquisition.
Tendering and quote comparison
Language models generate bills of quantities and compare tradespeople's quotes item by item.
Subsidy research for GEG measures
An assistant checks programs and deadlines against the property data and prepares the draft application.
Capture property documentation in a structured way
Photos and reports from the visit are tagged automatically and assigned to the component.
What limits the technology here
The work happens on site at the property, and professional responsibility under the GEG cannot be handed off to a model.
What this means for you
Your digital property documentation helps decide how much value we can see in the portfolio.
There is no reliable public study on the level of automation in this segment. The assessment comes from GTP.
What we want to see
The documents we need
After the first call and the non-disclosure agreement, these five documents are enough for a solid offer.
- List of service contracts with term, fee and scope of services
- Inspection and maintenance calendar for three sample properties with records
- Project list of renovation support over the last three years with fees
- Qualifications of the technical team
- Professional liability policy and claims history
What we buy
Our acquisition profile for this segment
Criteria
- Mostly recurring revenue (property management services, framework contracts)
- EBITDA from €0.5m or add-on
- Engineers or technicians on the team besides the owner
- No property development at own risk
Value drivers
- Framework contracts with management companies and housing companies
- GEG and subsidy expertise on the team
- Digital property documentation
Value reducers
- High share of project business
- Liability cases from subsidy advice
- Professional approvals mostly lie with the owner
How you can tell we know your business
Three facts you can quote
- 01VDIV members are responsible for €12.7bn in maintenance spending per year (VDIV 2026).
- 0298% of managers expect a growing need for training because of the GEG and heat planning (VDIV 2024).
- 03The 2020 WEG reform gives owners a right to structural changes such as e-mobility and accessibility.
Market range, third-party source
What comparable companies trade at in the market
| Size class | EBITDA multiple |
|---|---|
| Micro-cap, revenue below €5m The relevant class for most succession cases in this segment | 3.5x to 5.5x |
| Small-cap, revenue €5m to €50m | 5.0x to 7.0x |
Category business services (B2B). Source: DUB KMU-Multiples Q2/2026. The DUB figures show asking prices and price expectations on a business marketplace. They do not include completed transactions. The range comes from an independent third party and is not an offer from GTP.
From multiple to cash
The multiple gives the enterprise value. What reaches your account depends on four items:
- Net financial debt
- Loans, leases and shareholder accounts are deducted, cash is added.
- Working capital
- We assume a normal level. An account emptied before the sale reduces the price.
- Investment backlog
- Vehicles, measuring equipment and software due in the next two years are deducted from the price.
- Payment structure
- Part of the price is paid only after signing, through a rollover or a performance-based component.
What lowers the value
If one of these points applies, the value drops:
- The owner personally holds the key customers
- Short remaining terms or contracts that can be terminated at any time
- If a large share of revenue depends on one customer, the price goes down.
- No second management level that runs the business without the owner
We calculate your value in the first call using your numbers. We go through the four items openly with you, even if the result is below your expectations.
All market data and the regulatory timeline for real-estate-related services
Frequently asked questions
What owners in this segment ask
Do you also buy property developers?
No. Property development at own risk does not fit. Project management for third parties for a fee, yes.
How do you value project revenue?
With a discount. Mostly property support is worth more than mostly project business.
What about liability from GEG advice?
We check financial loss liability insurance and open cases in due diligence. The result goes into the price.
Does my team stay?
Yes. Technicians are scarce. We invest in documentation and new talent and do not cut jobs.
Real-estate-related services
More segments in this area
Sell a property management company
Platform segment for management companies with a stable base of appointments and a certified team.
Sell a rental management companyCondominium unit and rental management as an addition to a WEG core.
Sell a real estate accounting companyService providers that handle billing and bookkeeping for other managers.
Sell a property management company (commercial)Management of office, retail and logistics properties for institutional owners.
Sell a facility services companyFacility-related services with recurring contracts with management companies and owners.
Why we buy this segment
A management company lives on the trust of advisory councils, owners and tenants in your team. That is why we talk about your people first and the price second.
I am responsible for the purchase agreement and the handover. In a share deal, your appointments remain in place, and no owners' association has to pass a new resolution. We clarify this before the offer.
For M&A advisors, tax advisors and succession advisors
Response on your client usually within 72 hours
Acquisition profile, teaser metrics and our commitments for all 24 segments are on a separate page. We only approach your client through you.
First step
Talk to a buyer who knows your segment
A 30-minute call is enough to know whether we fit. Afterwards you get a written assessment with reasons.
Request a confidential first call
Or call us: +49 40 89741812
ConfidentialOnly the three partners see your enquiry. An NDA is possible in advance on request. We share nothing with third parties.