Carnegie sole financial adviser to Vaaka Partners in the sale of Kotikatu Holding Oy to PHM Group

On the 10th of June it was announced that Vaaka Partners and other shareholders in Kotikatu Holding Oy (“Kotikatu”) have sold their ownership to PHM Group, majority owned by a fund managed by Norvestor.

Kotikatu is the largest residential property maintenance service provider in Finland, with main presence in Helsinki Metropolitan Area and other larger Finnish cities. Kotikatu’s service offering includes, among others, daily maintenance, cleaning, seasonal outdoor services as well as small-scale HVAC and construction services. The Company has c. 6,500 customer and c. 1,500 employees and had revenues of over €100m in latest fiscal year (3/2020). Since Vaaka Partners’ acquisition of Kotikatu in 2015, the Company has grown strongly with over 35 acquisitions, strengthened the management team and its operational model.

Norvestor announced the investment in PHM Group in March 2020, with an ambition to support the creation of a Nordic market leading residential property maintenance services group, through continued rapid organic growth and consolidation of a fragmented market that has proven resilient through economic cycles. The highly complementary combination of PHM Group and Kotikatu will create a unique platform enabling an accelerated growth and enhanced client service in Finland and Sweden.

The transaction is subject to approval from the Finnish Competition and Consumer Authority and is expected to close during Q3 2020.

Carnegie acted sole financial adviser to Vaaka Partners in connection with the transaction.