Norvestor SPV III / Norvestor IX Acquire PHM Group Oy and Sperre Air Power AS in Continuation Fund Transaction
July 15, 2025
Norvestor created a continuation vehicle (Norvestor SPV III), supported by commitments from Norvestor IX and a syndicate of institutional investors, to acquire PHM Group Oy and Sperre Air Power AS from earlier Norvestor funds (Norvestor VIII and Norvestor SPV II). The transaction provides liquidity/options to existing investors while preserving follow-on capital and strategic support for the two companies’ growth and M&A agendas.
- Buyers
- Norvestor SPV III SCSp, Norvestor IX SCSp, Carlyle AlpInvest, Ardian, HarbourVest Partners, Lexington Partners
- Targets
- PHM Group Oy, Sperre Air Power AS
- Sellers
- Norvestor VIII SCSp, Norvestor SPV II SCSp
- Industry
- Real Estate
- Location
- Uusimaa, Finland
- Transaction Type
- Divestiture
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