Norvestor invests into PHM Group
Intera Fund III Ky has signed an agreement to sell part of its shares in portfolio company PHM Group to a fund managed by Norvestor. Norvestor is a Nordic private equity investor headquartered in Oslo, Norway. PHM is the fastest growing property maintenance service provider in Finland serving both residential and commercial customers. During 2019 the company expanded to Sweden, which contributes around 40% of PHM Group’s 120 million euro revenue.
The transaction helps PHM Group accelerate its growth in the Nordic facility maintenance market. The deal is expected to be completed during spring 2020 after approval from competition authorities.