Vaaka Partners sells Kotikatu to Norvestor-backed PHM

According to a statement by Norvestor, the combined group will reach €250m in revenues in 2020 and will have about 2,750 employees.

Noverstor partner Karl Svozilik told Norwegian newspaper Finansavisen that further acquisitions in Sweden and Norway for PHM are of interest, and a Norwegian deal may occur this year.

Unquote sister publication Debtwire reported in March this year that the company was being marketed based on a budgeted 2020 EBITDA of €20m.

Mergermarket reported in January that Vaaka had reportedly mandated Carnegie for the sale of the company.

Vaaka acquired a majority stake in Kotikatu in February 2015. During Vaaka's holding period, Kotikatu's revenues have risen from about €25m in 2015 to more than €100m in 2019.

Company
Founded in 1989 and formerly known as Kh-Kiinteistöpalvelut, Kotikatu is Finland's largest property services company, offering property maintenance and supporting services to 6,500 housing cooperatives.

Kotikatu is formed of specialised units providing property maintenance services in the Helsinki capital region, as well as Pirkanmaa, Lahti, Pori, Jyväskylä, Kuopio and Oulu. It employs 1,500 staff and generated EBITDA of €20m from revenues of around €100m in 2019.

People
Kotikatu – Juusi Niemela (CEO).
Vaaka Partners – Panu Vuorela (partner).
Norvestor – Karl Svozilik (partner). 

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• Topics
• Exits
• Nordics
• Expansion
• Vaaka Partners Ltd (Formerly Pohjola)
• Finland
• Norvestor