Norvestor has acquired a majority stake in PHM Group, the leading property maintenance service provider in Finland, with a significant presence in Sweden. Together with the current owners, Intera Partners and the management of PHM Group, Norvestor’s plan is to back PHM’s continued growth and consolidation of the Nordic residential property maintenance sector.
The transaction is expected to close during the spring, subject to customary closing conditions.
PHM Group is headquartered in Porvoo, Finland, with its Swedish main office in Stockholm, and has annual revenues of approximately EUR 120 million and approximately 1,200 employees.
Norvestor is a leading private equity company focusing on lower mid-market buyouts in the Nordic region. The team has worked together since 1991 making it one of the most experienced private equity teams in the Nordics, having executed 71 investments with over 250 add-on acquisitions, in addition to executing 50 exits, including 15 IPOs.
Norvestor was advised by the law firms Dittmar & Indrenius (as lead counsel) and Mannheimer Swartling (in relation to Swedish aspects) in the transaction.