LONDON, 4 October 2018: Metric Capital Partners LLP (“Metric”), the European private capital group, has announced today its investment to support the acquisition of Parmaco Oy (“Parmaco”), the leading Nordic provider of high-quality moveable rental space used primarily for educational buildings and headquartered in Finland.
Parmaco designs, builds and rents pre-fabricated modular buildings primarily to municipalities in Finland and Sweden for use as day-cares and schools, as well as nursing homes and office space. Under the leadership of the experienced management team, led by CEO Ossi Alastalo, Parmaco has grown the size of its asset base six-fold in the last few years and earned a reputation as a well-run, customer-focused business. Municipalities’ continued strong demand for flexible space capable of meeting modern educational requirements is expected to support further growth.
John Sinik, Managing Partner and Chairman of Metric’s Investment Committee, said: “Parmaco is a fast growing and exciting business and we are delighted to be playing a key role in the next phase of its development. In addition to the growth potential, our investment thesis is supplemented by the downside protection provided by the existing portfolio of modular buildings and rental agreements with municipalities. This deal is a further example of recent asset-backed transactions completed by Metric Capital which have also included DSM/SFG and Beachbox.”
Ossi Alastalo, CEO of Parmaco, said: “Today’s announcement is a meaningful milestone in Parmaco’s development. The prospects for our stakeholders – employees, shareholders, partners, suppliers and, most importantly, our customers – are very exciting and I look forward to continuing to lead the business through to the next stage of its development.”
Metric was advised by global law firm White & Case LLP.
The transaction is subject to customary regulatory approvals and is expected to complete by the end of the year.
About Metric Capital
Metric Capital provides private capital solutions to European companies and seeks to support companies’ ambitions to execute strategic transactions. In addition to providing capital solutions, Metric Capital aims to be value-add partners to its portfolio companies.
For further information please contact:
John Sinik, Managing Partner, Metric Capital Partners, Tel: +44 203 540 1558
Lukas Zeitlberger, Senior Principal, Metric Capital Partners, Tel: +44 7835 297 141
Erwin Molenaar, Senior Advisor, Metric Capital Partners, Tel: +31 70 219 50 10