Norvestor-backed PHM Group completed the acquisition of Schultz Gruppe.

Norvestor-backed PHM Group, a provider of property maintenance services, completed the acquisition of Schultz Gruppe, a provider of facility and building management services intended to support commercial, industrial and residential properties in Northern Germany. Financial terms were not disclosed. "The acquisition of Schultz Gruppe gives us a good opportunity to grow our business in a new market. PHM Group consists of the best local companies in the industry. With its strong organisation and committed management, Schultz Gruppe, which has been active since 1904, is therefore a fine addition to the PHM team," Ville Rantala, PHM Group CEO.