Borenius advised Norvestor on the sale of PHM Group to a continuation vehicle

We advised Norvestor Funds on the sale of PHM Group Oy (“PHM”) in connection with the sale of PHM Group and Sperre Air Power to a newly formed continuation fund Norvestor SPV III.

PHM is the leading European residential property services provider, with operations across Finland, Sweden, Norway, Denmark, Germany, Switzerland, and the United Kingdom. PHM is the largest European consolidator of its kind, providing essential services to the homes of several million residents, and will continue its growth and expansion through an extensive M&A pipeline, digital innovation, and operational improvements.

SPV III closed on approximately EUR 2.5 billion of new capital commitments to fund the purchase and further financing of the assets from their respective funds and minority investors.