Renzenbrink & Partner advises PHM Group on the acquisition of Schultz Gruppe

19 October 2022

PHM Group, a Nordic provider of residential property maintenance services backed by private equity investor Norvestor has acquired Hamburg-based Schultz Gruppe, a real-estate service company providing facility and property management as well as electrical engineering and building services. The acquisition of Schultz Gruppe marks PHM’s first investment in Germany and provides a platform to execute PHM’s buy & build strategy in the DACH region.

Founded in 1904, the family-owned Schultz Gruppe is a leading provider of a wide range of services for commercial, industrial and residential properties in Northern Germany. Schultz Gruppe has over a thousand employees and will continue its work under its own brand.

Finland-based PHM Group is a Nordic provider of residential property maintenance that mainly serves housing companies and operates in Finland, Sweden, Norway and Denmark. As a sign of its strong growth, PHM was able to increase its revenues more than tenfold in the past four years to EUR 417 million in 2021.

Renzenbrink & Partner has comprehensively advised PHM Group on all legal and tax matters of the acquisition. The team was led by the partners Dr. Dennis Schlottmann (Corporate/M&A) and Marc H. Kotyrba (Tax) and comprised the associates Dr. Alexander Haunschild, Jonas H. Hamm, Malte Pulmer, Eike Rabenberg, Leif-Magnus Wishöth (all Corporate/M&A) and Dr. Toufic Schilling (Tax).

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