Bird & Bird advises Terra Firma on the purchase of Parmaco Group


Bird & Bird's Nordic team has advised European private-equity firm Terra Firma in a deal to buy Parmaco Group from Finnish private equity group MB Funds.

Parmaco is a real estate company specialising in building and renting of schools, day care centres and nursing homes. Parmaco is active in Finland and Sweden, and has increased its asset base six-fold to more than 200,000 square metres over the past four years.

Under its new owners, the business intends to double its overall footprint to more than 500,000 square metres over the course of three to five years. It will also pursue international expansion. Terra Firma is one of Europe’s leading private equity firms and has since 1994 invested €17 billion in 33 businesses with an aggregate enterprise value of over €48 billion.

In the transaction, Terra Firma's Special Opportunities Fund IV has partnered with European private capital manager Metric Capital and Hong Kong investment firm Sun Hung Kai & Co. The transaction is expected to be completed by the end of the year.

Bird & Bird's core team in Finland and Sweden comprises Mårten Willamo (Partner), Carl Hoffman (Associate), Maria Carlsson (Partner), Kristiina Lehvilä (Senior Counsel, Finance), Johanna Wärnberg (Counsel, Corporate), Katia Duncker (Partner, Competition), Päivi Tammilehto (Senior Associate, Competition), Sebastian Westerling (Associate, Corporate), Julius Matilainen (Associate, Corporate), Lassi Inki (Associate, Dispute Resolution) and Riikka Heinonen (Associate, Employment).