PHM Group accelerates its growth and strengthens its geographical presence in Norway by joining forces with Sefbo


PHM Group (“PHM” or the "Company") has made substantial progress on its Nordic growth strategy and in the development of a one-stop-shop service offering for residential housing associations since Norvestor VIII SCSp became the majority owner in April 2020. During the partnership with Norvestor, the Company has carried out around 100 add-on acquisitions across the Nordic countries, establishing leading market positions in Finland, Sweden, Norway and Denmark, while also expanding to Germany in October 2022. With the acquisition of Sefbo Holding AS (“Sefbo”) PHM becomes the leading player in the fragmented Norwegian residential property services market and strengthens the range of services and geographical reach in Norway.

PHM Group has on 20 September 2023 signed an agreement to acquire Sefbo, the leading service provider of contract and subscription-based services to residential housing associations in Norway. Sefbo is headquartered in Oslo and has an annual turnover of NOK 730 million and approximately 560 employees. Sefbo’s service offering includes technical services, specialist services, property management services, and digital services and it has a strong geographic presence throughout Norway. The sellers include a fund managed by private equity firm Valedo Partners with majority share and employees and management of Sefbo. Norvestor and PHM’s other existing shareholders will support the transaction by investing additional equity into PHM to partially finance the acquisition and Sefbo’s management and certain minority shareholders have committed to continue as minority shareholders in PHM through reinvestments.

The acquisition is in line with PHM Group’s strategy and Sefbo will bring further growth and expertise in PHM Group’s operations in Norway. PHM and Sefbo have complementary geographical footprints and the acquisition will expand PHM’s operations in Eastern Norway, while also providing opportunities for operational improvements in the Oslo region where both companies have operations. Additionally, Sefbo will strengthen PHM’s service offering in Norway by introducing a broader portfolio of specialist services as well as property management services. The partnership will also enable PHM to accelerate digitalisation of the Norwegian operations by among other rolling out proprietary digital portal solutions to the customers of both companies. With the acquisition of Sefbo, the PHM Group generates approximately EUR 720 million in pro forma revenues, employs approximately 8,000 people, and serves more than 30,000 customers.

“Sefbo is a fast-growing and developing group with a solid foothold as a provider of residential property services and specific expertise supporting PHM Group’s business. The acquisition will strengthen our position in Norway significantly and will provide us with excellent opportunities to expand and develop our activities both locally and as a group. We look forward to working together with the Sefbo team to take our joint business forward and provide our customers with the high-quality service they have come to expect locally”, says Ville Rantala, CEO of PHM Group.

“We are very pleased that Sefbo will become part of PHM Group. I strongly believe that joining forces with the PHM Group will offer us new opportunities to succeed in delivering and developing our services, as well as giving our employees increasingly strong support and more career options to grow as part of a larger group”, says Tommy Fredriksen, CEO of Sefbo.

"This is a key milestone on our journey to build PHM into a European leader in residential property services. We hold in high regard the work that Tommy together with the broader management team in Sefbo has done to date, balancing strong organic growth and acquisitions and significant investments in Sefbo’s organization and operating model. We believe PHM and Sefbo belong together, sharing the similar customer centric focus and company cultures, in addition to having complementary geographical footprints and service offerings.”, says Karl Svozilik, Chair of the Board of PHM Group and Partner at Norvestor Advisory.

The transaction is subject to approval from the Norwegian Competition Authority and it is expected to close during Q4 2023.


For further information and inquiries:

Karl Svozilik, Partner, Norvestor,
Telephone: +47 98 40 00 63

Ville Rantala, CEO, PHM Group
Telephone: +358 50 385 1442

PHM Group is a residential property services group whose mission is to care about people by taking care of their surroundings. PHM Group consists of the best local enterprises sharing the same values and motives, entrepreneurship, and a fair and responsible way of working. We believe that the only thing better than local service is local service with big resources. With PHM Group you do not have to choose between your well-known local entrepreneur and a big provider. With PHM Group, you get both. Read more at

Sefbo is the leading supplier of services in operations, financial management, and maintenance. We create a better everyday life for our customers through our local partners around Norway. We have a strong believe in skilled employees with kindness and smile. We are always one step ahead. With our one stop shop we arrive, solve and follow up as agreed. Read more at

Norvestor is a leading private equity company focusing on mid-market buyouts in the Nordic region with offices in Oslo, Stockholm, Helsinki, Copenhagen and Luxembourg. The team has worked together since 1991, making it one of the most experienced private equity teams in the Nordics, having executed 84 investments with over 400 add-on acquisitions, in addition to executing 59 exits, including 16 IPOs. The Fund seeks to invest in growth companies in the Nordic mid-market that have the potential to achieve a leading Nordic or international position, typically through organic growth, acquisitions across fragmented industries or by geographic expansion. Read more at