The CEO of Luxembourgish company atHomeGroup, Tim Pittevils, has proceeded with a management buy-out to take over the REA Group’s activities in Europe.

AtHomeGroup’s CEO Tim Pittevils has agreed to take over the Australian multinational company REA Group’s branches in Europe, in partnership with the management of casa.it and supported by Oakley Capital Investments.

The real estate portal specialist REA Group operates all over the world. In Europe, the company encompasses atHomeGroup in Luxembourg (atHome.lu), France and Germany, and the association casa.it in Italy. REA Europe has an annual turnover of around 33.3 million euros.

Following negotiations, REA Group decided to give its two European entities over to their respective managers, Tim Pittevils and Luca Rossetto, the latter of whom is the CEO of casa.it. This hand over will be supported by British investor Oakley Capital Investments.

Tim Pittevils, who is notably in charge of atHome.lu, and Luca Rossetto have had great success on their respective markets. AtHome.lu, created in 2001, is now the leading property portal in Luxembourg, reaching 90% of real estate agents in the country. The company has also gone having 30 to 79 collaborators, most of whom work in Luxembourg, between 2013 and 2016.

The CEO of atHome.lu has spoken out about the opportunities this take-over offers the company in the sector of digital real estate: “The partnership with Oakley and casa.it will allow us to accelerate, together, our development in France, Luxembourg and Europe.”