PHM Group, a leading provider of residential property maintenance services in the Nordics acquired Schultz Gruppe. The acquisition marks PHM’s entry into the German real-estate services market and provides a platform to execute PHM’s buy & build strategy.
For Schultz Gruppe this transaction resolves the company’s long-term succession and enables further growth via organic and inorganic opportunities. Axel Schultz will continue to support the group in its strategic development and remains as shareholder.
The transaction closed on Oct. 14th, 2022.
Founded in 1904, Schultz Gruppe is a Germany-based provider of facility services, property management, electrical engineering and building services. With its long-standing presence in the Hamburg area, the company belongs to the leading providers of facility services in Northern Germany.
Schultz Gruppe’s main offering comprises various technical services which include maintenance, installation and inspection in the areas of cooling technology, electrical engineering and heating technology, as well as infrastructural management, where glass and facade cleaning play the most important roles.
About PHM Group
PHM Group is a Nordic provider of residential property maintenance. It grew out of KH Kiinteistöpalvelut Oy, founded in 1989, and Porvoon Huoltomiehet Oy, founded in 1992. In over 30 years of history PHM Group has evolved into a property maintenance company that mainly serves housing companies and operates in Finland, Sweden, Norway and Denmark. PHM is a prime example of a private equity-backed growth story, as the company was able to increase its revenues more than tenfold in the past 4 years to EUR 417m in 2021.