Inside information: PHM Group to acquire the Real Estate Services business of Investis Group and expand into Switzerland
PHM Group Holding Oyj | Stock Exchange Release: Inside information | 7 June 2024 at 8.00 a.m. EEST
PHM Group is acquiring the Switzerland-based Investis Group’s subsidiaries in its Real Estate Services business. The subsidiaries in question provide property management and maintenance services for residential and commercial properties in Switzerland. The acquisition is part of PHM Group’s continued growth in Central Europe.
PHM Group Oy (“PHM Group“), a subsidiary of PHM Group Holding Oyj, has signed an agreement on acquiring 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 purchase price to be paid is CHF 230 million and the cash and debt-free purchase price to be paid is CHF 240 million. The transaction is expected to be completed during the second quarter of 2024. PHM Group has 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.
After the acquisition, Investis Group will focus on direct real estate investments in the Lake Geneva region in line with its strategy. The real estate investment business is 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 be proposed as 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 it is proposed that Stéphane Bonvin, CEO of Investis Group, be elected as a member of PHM Group’s Board of Directors. 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.
Further information:
Ville Rantala, Group CEO, +358 50 385 1442, ville.rantala@phmgroup.com
Petri Pellonmaa, Group CFO, +358 40 568 3841, petri.pellonmaa@phmgroup.com
Investis Group in brief
Founded in 1994, Investis Group is a leading real estate company in the Lake Geneva region. The portfolio of Investis Group consists almost exclusively of residential properties with apartments in the mid-price segment in the Lake Geneva region and was valued at CHF 1,518 million as at 31 December 2023.
INVESTIS has been listed on the SIX Swiss Exchange since June 2016. For further information: www.investisgroup.com
PHM Group in brief
PHM Group is a property services group whose mission is to care about people by taking care of their surroundings. PHM Group consists of the best local companies in the industry with the same values and motivations: entrepreneurship and a fair and responsible way of working.
PHM Group employs over 10,000 property services professionals in Finland, Sweden, Norway, Denmark and Germany. The Group’s consolidated revenue amounted to EUR 759 million in 2023. PHM Group is owned by the funds managed by Norvestor and the Intera fund together with the management of the local companies. Read more: phmgroup.com
Contacts
- Petri Pellonmaa, Konsernin talousjohtaja, +358 40 568 3841, petri.pellonmaa@phmgroup.com
- Ville Rantala, Konsernin toimitusjohtaja, +358 50 385 1442, ville.rantala@phmgroup.com