Asteri Facility Solutions Sells to SOL Facility Services
Deal News | Jan 07, 2025 | Mutares
Mutares SE & Co. KGaA successfully divested its portfolio company Asteri Facility Solutions to SOL Facility Services, completing the sale agreement with closing on January 7, 2025. The exit had already been achieved in December 2024, with an announcement delay until January 2025 to accommodate business operations. Asteri, based in Stockholm, specializes in soft facility management and operates primarily within Greater Stockholm, Gothenburg, and Malmo, generating approximately EUR 23 million in turnover and employing around 700 individuals as of 2024. Under Mutares' stewardship, Asteri was repositioned to support further growth. SOL Facility Services, a major player in the Nordic and Baltic regions, as a division of the Finnish SOL Group, views this acquisition as strategic, particularly in advancing its goals in the Swedish market. Johannes Laumann, CIO at Mutares, and Erki Milistver, CEO of SOL Facility Services, both expressed optimism regarding Asteri’s integration and future under SOL’s ownership.
Sectors
- Facility Management
- Private Equity
Geography
- Sweden – Asteri Facility Solutions is based in Stockholm and operates mainly in Sweden, focusing on areas such as Greater Stockholm, Gothenburg, and Malmo.
- Finland – SOL Facility Services, the acquiring company, is part of the Finnish-owned SOL Group, underlining its geographical connection to Finland.
- Germany – Mutares, the selling private equity firm, is based in Munich, Germany, providing a geographical context for part of the transaction.
Industry
- Facility Management – Asteri Facility Solutions operates in the soft facility management sector, providing services across Sweden, which makes this industry relevant to the article.
- Private Equity – Mutares is a private equity firm, and the article discusses its divestment activity, which is a classic maneuver in the PE industry.
Financials
- EUR 23 million – Estimated annual turnover of Asteri Facility Solutions for 2024.
- EUR 400 million – Annual turnover of SOL Group, the parent company of SOL Facility Services.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Mutares SE & Co. KGaA | Selling Company | Company | A Munich-based private equity firm that has divested its portfolio company Asteri Facility Solutions. |
| Asteri Facility Solutions | Target Company | Company | A soft facility management company based in Stockholm, Sweden, specializing in services across the country. |
| SOL Facility Services | Buying Company | Company | A division of the Finnish SOL Group, it is a large service provider in the Nordic and Baltic countries and the buyer of Asteri. |
| SOL Group | Parent Company | Company | A Finnish family-owned conglomerate overseeing SOL Facility Services, maintaining significant influence in the Nordic and Baltic regions. |
| Johannes Laumann | CIO of Mutares | Person | Chief Investment Officer of Mutares, involved in overseeing the sale transaction. |
| Erki Milistver | CEO of SOL Facility Services | Person | Chief Executive Officer of SOL Facility Services, leading the acquisition and integration of Asteri. |