Intera Partners announces its exit from property services provider PHM Group as newly raised continuation fund controlled by Norvestor acquires Intera’s share in the company. PHM represents one of the most impressive Finnish growth stories to date in the services sector. During Intera’s investment, PHM grew from a local business with sales of EUR 40 million to a company that now operates in seven countries, employs 14,000 professionals and generates revenue of over EUR 1.1 billion.
PHM Group is a leading provider of local property services, specializing in residential property maintenance and enhancing living environments. It consists of strong local companies supported by group and country level expert units and resources.
Intera joined PHM’s growth story as a majority owner in 2018. Within the first 18 months of collaboration, the company completed 19 acquisitions, expanded into Sweden and tripled its revenue. In 2020, Norvestor acquired a majority stake in PHM while Intera remained a minority owner. During the same year, PHM and Kotikatu merged to form the leading property services company in the Nordic region.
During Intera’s ownership period, PHM expanded its operations from Finland to Sweden, Norway, Denmark, Germany, Switzerland and the UK, now employing close to 14,000 professionals. The company’s revenue grew from EUR 40 million to EUR 1,130 million.
“PHM is one of the most successful growth stories and private equity investments in the Finnish services sector, having achieved remarkable growth and international expansion during our collaboration. I would like to thank PHM’s exceptional team for their dedication and collaboration. PHM is well-positioned to continue its successful expansion with Norvestor,” says Tuomas Sarkola, Partner at Intera and Member of the PHM Group’s Board.
“Over the years, PHM has grown to a leading provider of property services in Europe. We have demonstrated exceptional growth and strengthened our operational capabilities. Intera’s courage and experience in internationalization were truly valuable in our journey. We will continue to grow strongly both organically and through acquisitions, and we are constantly exploring opportunities to expand into new markets. We have the opportunity to make PHM a global success story,” says Ville Rantala, CEO of PHM Group.
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Additional information:
Tuomas Sarkola
Partner, Intera Partners
tuomas.sarkola@interapartners.fi
+358 40 845 6493
