Realia Group, the largest service provider in real estate management and brokerage services in the Nordic countries, is to be acquired by Altor Fund IV (Altor). The Nordic private equity fund acquires the company from the current majority owners Sponsor Fund III, Nordea, and Varma. The sale and purchase agreement was signed on June 1, 2016.
Realia Group brings together a broad spectrum of competencies in real estate management and real estate brokerage services in Finland and the Baltic countries. Operations are conducted through the subsidiaries Realia Isännöinti, Realia Management, Huoneistokeskus, Huoneistomarkkinointi, and SKV Kiinteistönvälitys in Finland, and Ober-Haus Real Estate Advisors in Baltic countries.
”I am looking forward to working together with the new owner Altor, and I strongly believe that the collaboration will benefit the entire Realia Group and its subsidiaries. We have taken significant steps in developing Realia Group together with Sponsor Capital, Nordea, and Varma over the last years. This development will now be further strengthened as Altor shares our view of how to build high quality real estate management and real estate brokerage services,” says Matti Bergendahl, CEO of Realia Group.
”We have followed the development of Realia Group closely for a long time, and real estate management and real estate brokerage services are in a highly interesting developmental stage in Finland and other Nordic countries. Realia Group has very well-known brands in both real estate management as well as real estate brokerage services in Finland and the Baltic countries. We want to continue developing these services together with the management and personnel of Realia Group towards the Group’s vision: For better living and real estate wealth,” says Risto Siivonen, Partner at Altor.
”We have been building and developing Realia Group and its subsidiaries for a long time, and the Group with all its brands is very close and important to us. We decided this spring that Realia Group should continue its development in the next strategic phase supported by a new owner, and we are delighted that the new owner will be Altor, a company we know well,” says Kaj Hägglund, Managing Partner at Sponsor Capital.
The transaction will require an approval from the Finnish Competition and Consumer Authority.