Vesterra Capital Partners acquires PHFM
The carve-out from Powerhouse Services establishes PHFM as a standalone platform serving multi-location commercial customers through a nationwide network of vetted service providers.
Takeaways
- PHFM is a provider of single-.
- Vesterra Capital Partners and PHFM are classified as a platform transaction.
- The target serves multi-location commercial businesses across United States.
PHFM, a tech-enabled interior and exterior facilities maintenance provider, has been acquired by Vesterra Capital Partners in a carve-out from Powerhouse Services, a Lincolnshire Management portfolio company.
The Columbus, Ohio-based company serves multi-location businesses in retail, restaurants, healthcare, education, grocery, and industrial markets through a proprietary technology platform that connects a nationwide contractor network.
CEO Michelle Egan and the existing management team will continue to lead the business.
The acquisition is the latest investment for Vesterra, which recently rebranded from Comvest Private Equity and focuses on lower middle-market essential service companies.
The West Palm Beach, Florida-based firm manages roughly $1.9 billion in assets and intends to support PHFM through technology investment, expanded service capabilities, and targeted add-on acquisitions.
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