Private equity company Mutares has signed an agreement to acquire Recover Nordic Oy from Recover Group for an undisclosed amount, it said over the weekend.
Recover Nordic Oy, which had 2022 revenue of around 40 million euros ($43.9 million), will sit within Mutares’s goods and services segment. The Finnish company provides property remediation services related to water and fire damage–among other thing–and covers the value chain from first response and inspection to demolition, remediation and reconstruction, German turnaround-specialist Mutares said.
The acquisition builds further on Mutares’s presence in Finland, Chief Information Officer Johannes Laumann said. Mutares previously acquired Palmia, a Finnish company that provides food, real estate, cleaning, security, and business premises services, the company said.
The transaction is expected to close in the third quarter of the current year and is subject to approval by Finnish authorities, Mutares said.
Source : Market Watch