Partners Group buys Parmaco from Terra Firma-led group

The exit comes three years after Terra Firma, in partnership with Metric Capital and Hong Kong-based investment firm Sun Hung Kai & Co, acquired the company for around €400m, according to Mergermarket. 

The publication reported in October last year that the vendors had mandated Deutsche Bank to run a dual-track exit process, and that the company was marketed at an EBITDA of around €55m. 

The publication also reported sources as saying that the vendors pitched the valuation at close to €1bn, while one of them said it could be be nearer €800-900m. 

Partners Group said in a statement that it will help management build on the company's position in the educational building market in Finland and transform it into a leading pan-Nordic modular buildings provider. 

The deal is subject to approval from regulatory authorities and is due to close in Q2 2021. 

Company
Established in 1966 and headquartered in Tampere, Parmaco designs, builds and leases modular school and daycare buildings to municipality customers. It operates 353 buildings in over 80 municipalities across Finland and Sweden and employs 180 staff. 

People 
Terra Firma - Guy Hands (chair, CIO); Vivek Ahuja (CEO).
Parmaco - Sami Laine (CEO). 

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