Investis signed an agreement to sell its entire Real Estate Services business to the Finnish PHM Group Holding Oy’s subsidiary PHM Group Oy. The enterprise value amounts to €247.5m. The transaction is expected to close in the next weeks.
Stephane Bonvin, CEO of Investis Group, comments: "The sale of all of Investis Group's real estate services companies represents an excellent development opportunity for this business. PHM Group is an experienced pan-European real estate services provider active in Finland, Sweden, Norway, Denmark and Germany. Investis will now focus on further developing its excellent property portfolio."
The operations of all subsidiaries in the Real Estate Services segment will continue seamlessly.
"We are very pleased to enter this new market with the real estate services companies of Investis Group. The corporate culture of the acquired companies is very similar to PHM’s: we operate close to the customer, with the strength of local companies and brands. The transaction makes us one of the market leaders in Switzerland and also provides us with an excellent basis for making further acquisitions in the local market," said Ville Rantala, Group CEO of PHM Group.
With the sale, Investis will acquire a minority stake in PHM Group TopCo Oy for a total of c. €51.6m. In addition, Stephane Bonvin is proposed to be elected to PHM Group’s Board of Directors. With his extensive knowledge of the Swiss real estate market, he will continue to support the development of PHM’s Swiss subsidiaries in the domestic market.
Image source - Pexels.
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