Spanish coworking operator Monday’s controlling shareholder has exited the company at a full valuation of €30 million.
Spanish coworking operator Monday Working Spaces has seen its controlling shareholder sell their stake to a private equity firm from Andorra, valuing the company at €30 million.
The fund, a longstanding shareholder in the company, will continue to support the development and expansion of Monday’s operations.
The fund will keep developing Monday’s operations and expansion. Xavi Bassons, the CEO, who was a speaker last month at the Coworking Europe 2024 conference, in Sofia, stays at the top of the company.
So far, Monday was owned by the real estate company Urbania, currently operates 12 spaces: 5 in Barcelona, 3 in Madrid, 2 in Malaga, 1 in Andorra and its latest addition in Lisbon with a total of 31.700 m2 accommodating 4,300 people.
The transaction doesn’t include the buildings owned by Urbania, where Monday traditionally operates.
“The company’s objective was to create a relevant player in the coworking sector and we have achieved this. In recent months, we have tried to acquire or merge with some other players with the aim of increasing the size of the company and being attractive to some large international operator, but in the end we decided to sell it”, comments Tomas Gasset, Urbania’s founder.
With this divestment, Urbania maintains a commitment to the development of residential land and the consolidation of the student residence platforms, flex living and affordable rental housing programs.
https://www.iberian.property/news/offices/urbania-sells-its-coworking-operator-monday-for-eur30m/
