Shared 27 June, 2024
PHM Group Oy (“PHM Group“), a subsidiary of PHM Group Holding Oyj, has acquired the entire Real Estate Services business of Investis Group. The transaction includes the share capital of the business companies named Hauswartprofis AG, Privera AG, Olbara AG, Rohr AG, Home Service Aktiengesellschaft, Analysis lab SA and Aatest AG, as well as the support and administrative services company Valores AG.
The enterprise value of the transaction amounts to CHF 240 million, with Investis acquiring a minority stake in PHM Group TopCo Oy, totalling EUR 51.3 million, upon deal completion. PHM Group received the necessary financing commitments from Nordea Bank Oyj and Deutsche Bank Aktiengesellschaft to finance the transaction.
Investis Group’s Real Estate Services segment consists of services related to property management and property maintenance. The companies included in the transaction have 2,285 employees and their consolidated revenue for the financial year that ended on 31 December 2023 amounted to approximately CHF 180.8 million (171.7), or about EUR 183 million. The companies’ consolidated operating profit totalled CHF 17.9 million (18.1) and their consolidated balance sheet total was CHF 71.3 million (76.8).
The acquisition supports PHM Group’s growth strategy in Central Europe
PHM Group expanded into Central Europe in 2022 by first entering the German market. Expanding into Switzerland is a natural step for PHM Group to continue to execute the company’s growth strategy in Europe. The Swiss property services market is growing and its purchasing behaviour is very similar to the Finnish and Danish markets, for example. This makes Switzerland an attractive market for PHM Group.
“We are very pleased to expand into a new market and make Investis Group’s property services companies part of PHM Group. The acquired companies have a very similar corporate culture to that of PHM Group: we operate close to the customer with local companies and brands. This acquisition will make us one of the leading providers of property services for residential properties in Switzerland and provide us with excellent experience on carrying out successful acquisitions in the local market,” says Ville Rantala, CEO of PHM Group.
As part of PHM Group, Investis Group’s former property services business will continue to operate as before. Investis Group will now focus on direct real estate investments in the Lake Geneva region in line with its strategy. The real estate investment business was not part of this transaction.
“The sale of Investis Group’s property services companies provides an excellent development opportunity for this business. PHM Group is an experienced European property services provider that operates in Finland, Sweden, Norway, Denmark and Germany. Investis will now focus on further developing its excellent real estate holdings,” says Stéphane Bonvin, CEO of Investis Group.
Stéphane Bonvin to become a member of PHM Group’s Board of Directors
The acquisition will make Investis Investment SA a minority shareholder in PHM Group TopCo Oy, and Stéphane Bonvin, CEO of the Investis Group, has been elected to the Board of Directors of the PHM Group. In addition, Michael Stucki will be appointed as the Country Director of PHM Switzerland, having formerly been in charge of the Real Estate Services business in Investis Group.
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