A group of investors led by Terra Firma and consisting of Metric Capital and Sun Hung Kai & Co. Limited has agreed to acquire Parmaco, the leading Nordic provider of high-quality movable rental space, from MB Funds. The deal is expected to be closed after competition authority regulatory process by the end of the year.
Parmaco’s rental fleet includes currently 254 movable buildings in Finland and Sweden. Parmaco designs, builds and rents pre-fabricated high-quality modular buildings primarily to municipalities in Finland and Sweden for use as day-cares and schools, but also as nursing homes and office space. During MB Funds’ ownership the amount of Parmaco’s rental fleet has increased over sixfold. The company has two production sites in Finland as well as several production partners in the Baltics and Sweden. Parmaco’s revenue in 2017 was €101 million.
Founded in 1994, Terra Firma is one of Europe’s leading private equity firms and has invested over €17 billion of equity. Metric Capital provides private capital solutions to European Small-to-Medium (SME) companies and Sun Hung Kai & Co. Limited is an investment firm headquartered and listed in Hong Kong and has about €5 billion in total assets.
”After years of consistent building development and growth Parmaco has shifted the quality of movable buildings to a new level. In addition, the company has expanded its operations successfully in Sweden. It has been great to be a part of this success story and we are pleased to have agreed this transaction with the new owners, who will further support Parmaco in the next phase of the company’s development”, states Juha Tukiainen, Managing Partner at MB Funds.
Guy Hands, Chairman and CIO of Terra Firma, said: “The Parmaco acquisition is exciting news. Under MB Funds, Parmaco has grown the size of its asset base sixfold and has earned a reputation as a well-run, customer-focused business providing high-quality and flexible modular educational space solutions. We are looking forward to working closely with Ossi Alastalo and his team at Parmaco and with the teams at Metric Capital and Sun Hung Kai. We anticipate investing significant capital in the business to further develop the asset base and diversify into new geographies.”
Managing Partner, MB Rahastot
0400 791679 or email@example.com
MB Funds established in 1988 is a leading Finnish private equity firm with extensive track record and experience. MB Funds has managed over €0.5 billion in investments into approximately 40 high-quality medium sized companies in Nordics. The investors in MB’s funds have been primarily Finnish institutional investors.