WEST PALM BEACH, Fla., July 23 — Vesterra Capital Partners (“Vesterra”), formerly known as Comvest Private Equity, today announced the acquisition of PHFM (the “Company”) from Powerhouse Services, a Lincolnshire Management portfolio company. The transaction establishes PHFM as a standalone, independent provider of interior and exterior facilities maintenance services to commercial customers nationwide.
PHFM, based in Columbus, Ohio, is a single-source facilities maintenance platform serving multi-location businesses across retail, restaurant, healthcare, education, grocery, industrial, and other end markets. Through an asset-light, vendor-managed model powered by its proprietary technology platform, PHFM manages a national network of vetted providers to deliver consistent, reliable maintenance solutions at scale. The Company’s offerings span a broad range of interior and exterior facilities maintenance services, including both preventive maintenance and reactive, on-demand repairs.
PHFM will continue to be led by its existing management team, including Chief Executive Officer 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. “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. PHFM’s national footprint, proprietary technology platform, and well-established provider network position it as an attractive platform investment as we continue to expand our Professional and Managed Services vertical.”
“PHFM has built an impressive business with a differentiated operating model, a strong reputation for service quality, and longstanding customer relationships across a diverse set of end markets,” added Matt Kunz, a Partner at Vesterra. “We see significant opportunities to support the Company through ongoing investment in technology, service capabilities, geographic expansion, and strategic acquisitions. We look forward to working alongside Michelle and her team as they execute on the next phase of PHFM’s growth.”
“We are thrilled to partner with Vesterra, whose specialized experience in facilities services and collaborative approach align closely with our vision,” Egan said. “The Vesterra team shares our commitment to investing in our people, technology, and service capabilities. Together, we are well-positioned to build on our strong foundation, expand our capabilities, and continue delivering exceptional service to our customers.”
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.