Vaaka Partners to acquire property maintenance service group Kh-kiinteistöpalvelut
Vaaka Partners, a Finnish private equity firm, has acquired a majority stake in Kh-kiinteistöpalvelut, a group of companies providing property maintenance and related services. The aim of the transaction is to accelerate the development and expansion of Kh-kiinteistöpalvelut outside the Helsinki metropolitan area.
Kh-kiinteistöpalvelut is a group of local providers of property maintenance and support services. The past ten years have been a time of rapid growth for the group, and it has become a leading player in property maintenance services for housing cooperatives in the Helsinki metropolitan area.
Kh-kiinteistöpalvelut group operates 34 local service units with a total of 380 employees.
”Our operating model enables us to combine the flexible customer service of a small local company with the resources and stability of a bigger group. This has both driven growth and led to an exceptionally low customer churn,” says Markku Väisänen, CEO of Kh-kiinteistöpalvelut Oy. “With the support of Vaaka Partners, we will be able to broaden our service portfolio and accelerate growth.”
In recent years, the property maintenance service market has grown steadily at a rate of approximately five per cent per year in Finland. Growth is expected to continue at the same level, driven by continuing urbanization, aging buildings in city centers and increasing building service technology in new buildings.
“Our joint goal with the management and personnel at Kh-kiinteistöpalvelut is to clearly exceed the market growth. This will happen through both organic growth and further acquisitions. Kh-kiinteistöpalvelut is an appealing choice for the numerous janitor entrepreneurs approaching retirement age and seeking a reliable successor for their business and a service provider for their clients,” says Panu Vuorela, partner at Vaaka Partners. “Kh-kiinteistöpalvelut has already established a foothold in Jyväskylä, and we want to support further expansion to selected areas outside the Helsinki metropolitan area.”
The acquisition will make Vaaka Partners the majority owner of the group. The group management will continue as partners.
Further information: Vaaka Partners, Panu Vuorela, Partner, Tel. +358 40 510 0952, panu.vuorela(a)vaakapartners.fi Kh-kiinteistöpalvelut Oy, Markku Väisänen, CEO, Tel. +358 40 512 3828, markku.vaisanen(a)kh-kiinteistopalvelut.fi
Kh-kiinteistöpalvelut is a group of companies offering high-quality property maintenance and supporting services to housing cooperatives. The group turnover in 2013 was EUR 25 million, and the group has 380 employees in 34 local units. www.kh-kiinteistopalvelut.fi