Vesterra Capital acquires facilities maintenance platform PHFM

Vesterra Capital Partners (formerly known as Comvest Private Equity) has acquired PHFM, a Columbus, Ohio-based facilities maintenance platform, from Powerhouse Services, a Lincolnshire Management portfolio company. No financial terms were disclosed.

The transaction establishes PHFM as a standalone, independent provider of interior and exterior facilities maintenance services. PHFM serves multi-location businesses across retail, restaurant, healthcare, education, grocery, industrial, and other end markets.

PHFM will continue to be led by its existing management team, including CEO Michelle Egan.

> “We are excited to welcome PHFM to the Vesterra portfolio and to partner with Michelle and her talented team,” said Maneesh Chawla, managing partner of Vesterra in a statement. “PHFM exemplifies our strategy of partnering with market-leading services businesses within our core sectors that can benefit from Vesterra’s financial and operational resources to accelerate growth.”

Baird served as financial advisor and Kirkland & Ellis LLP served as legal advisor to Lincolnshire and Powerhouse in connection with the transaction.

Citizens and Piper Sandler & Co. served as Vesterra’s financial advisors, and Paul Hastings LLP served as its legal advisor.