M&A Deal Summary

Harrison Street Real Estate Capital and Trinity Investment Management Acquire Pioneer Group

On April 26, 2021, private equity real estates Harrison Street Real Estate Capital and Trinity Investment Management acquired real estate company Pioneer Group from BGF

Acquisition Highlights
  • This is Harrison Street Real Estate Capital’s 3rd and Trinity Investment Management’s 1st transaction in the Real Estate sector.
  • This is Harrison Street Real Estate Capital’s 1st and Trinity Investment Management’s 1st transaction in the United Kingdom.

M&A Deal Summary
Date 2021-04-26
Target Pioneer Group
Sector Real Estate
Buyer(s) Harrison Street Real Estate Capital
Trinity Investment Management
Sellers(s) BGF
Deal Type Secondary Buyout

Target

Pioneer Group

London, United Kingdom
Pioneer Group is a nationwide business to combine direct business support with the investment and development of new lab space. Providing ecosystems for growth and allowing ambitious businesses to tap into the expertise and networks of other companies connected across the globe. Pioneer Group was founded in 2020 and is based in London, United Kingdom.

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Buyer(S) 2

Buyer

Harrison Street Real Estate Capital

Investor Investor Investor Investor Investor

Category Private Equity Real Estate
Founded 2005
PE ASSETS 53.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Harrison Street Real Estate Capital is a an alternative asset management firm principally focused on real assets. These include student housing, senior housing, medical office, and storage properties. The Firm will consider opportunities throughout North America and Europe. Harrison Street Real Estate was established in 2005 and is headquartered in Chicago, Illinois.

DEAL STATS #
Overall 3 of 3
Sector (Real Estate) 3 of 3
Type (Secondary Buyout) 1 of 1
Country (United Kingdom) 1 of 1
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-17 Massachusetts Institute of Technology - Osborn Triangle

United States

Massachusetts Institute of Technology's Osborn Triangle is a state-of-the-art, multi-tenant office and laboratory complex located in East Cambridge/Kendall Square alongside some of the world’s top educational and research institutions. Osborn Triangle is directly adjacent to MIT’s campus. The complex encompasses three buildings – 610 Main Street North, 1 Portland Street, and 700 Main Street – with 676,917 square feet and an associated 650-space parking garage. Each building has been either recently renovated or built and the property is complemented by vibrant street-level retailers: Sulmona (Italian restaurant), Café Luna, Revela (an Aveda salon) and Boston Burger Company. The complex is fully leased to seven tenants and includes three anchor tenants: Pfizer, Inc., Novartis International AG, and LabCentral, an incubator for high-potential life-sciences and biotech startups.

Buy -
Buyer

Trinity Investment Management

Investor Investor Investor

Category Private Equity Real Estate
Founded 2012
Size Small
Type Sector Focused
DESCRIPTION

DEAL STATS #
Overall 1 of 1
Sector (Real Estate) 1 of 1
Type (Secondary Buyout) 1 of 1
Country (United Kingdom) 1 of 1
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-26 Knowledge Factory

London, United Kingdom

Knowledge Factory is one of the largest networks of science parks in the UK tailored to the innovation sector and totaling in excess of 1.5 million sq ft with c. 200 tenants in 419 acres. Knowledge Factory is based in London, United Kingdom.

Sell -

Seller(S) 1

SELLER

BGF

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2011
PE ASSETS 2.5B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

Business Growth Fund (BGF) is a private investment firm focused on early and growth-stage investing across the UK. The Firm also invests in publicly traded companies. BGF's growth team looks to invest £1 to £15 million in small to mid-sized companies looking for additional capital to pursue growth. BGF was established in 2011 and is headquartered in London.

DEAL STATS #
Overall 48 of 93
Sector (Real Estate) 1 of 1
Type (Secondary Buyout) 15 of 27
Country (United Kingdom) 45 of 88
Year (2021) 6 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-16 Polar Technology Management Group

Eynsham, United Kingdom

Polar Technology Management Group delivers engineering solutions to companies in the automotive, motorsport, medical, aerospace, defense, and energy sectors through its three subsidiary companies on its 5-acre factory complex based in Eynsham, Oxfordshire. SST Technology, Lentus Composites, and Horizon Property make up the hi-tech engineering portfolio. These companies take the responsibility for the design, development, and manufacture of a wide range of products based upon the following technologies; complex metallic tubular fabrications, polymer, and ceramic composites, multi-axis machining, and additive layer manufacturing. Polar Technology Management Group was founded in 2012 and is based in Eynsham, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-10 ReBOUND Returns

Telford, United Kingdom

ReBOUND Returns is a global returns management platform used by online clothing retailers such as ASOS, Gymshark and Charles Tyrwhitt. ReBOUND Returns was founded in 2014 and is based in Telford, United Kingdom.

Sell -
Mergr

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