Vesterra Capital Partners Announces Acquisition of PHFM

Investment deepens Vesterra's focus on professional and managed services through a leading tech-enabled facilities maintenance platform

WEST PALM BEACH, Fla.--(BUSINESS WIRE)--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.

About Vesterra Capital Partners

Vesterra (formerly Comvest Private Equity) is a lower middle market investment firm focused on control investments in the services economy, partnering with companies across business & infrastructure, healthcare, and consumer sectors. Founded in 2000, Vesterra partners with founders, family owners, and operators who are ready for their next stage of growth. The firm works side by side with management teams providing practical support, targeted resources, and strategic guidance shaped around each business. Headquartered in West Palm Beach, Florida, Vesterra manages approximately $1.9 billion in assets. For more information, visit www.vesterracap.com.

About PHFM

PHFM is a tech-enabled, single-source provider of interior and exterior facilities maintenance services to multi-location businesses across the United States. Headquartered in Columbus, Ohio, PHFM pairs its proprietary technology platform with a nationwide vendor network to deliver both preventive and reactive maintenance across a broad range of interior and exterior trades. For more information, visit www.phfmservices.com.

About Lincolnshire Management, Inc.

Lincolnshire Management, Inc., founded in 1986, is a private equity firm focused on investing in and acquiring growing middle market companies across an array of industries. Headquartered in New York, Lincolnshire Management invests in acquisitions of private companies, recapitalizations, corporate divestitures, management buyouts and growth equity for public and private companies. Lincolnshire Management manages over $2.0 billion of private equity capital. For more information: www.lincolnshiremgmt.com

About Powerhouse Services

Powerhouse provides full service, multi-site enhancement services. Using its proprietary technology for real time management and reporting, Powerhouse provides a centralized service for retail and commercial industry leaders for nationwide rollouts for fixtures, displays and new equipment as well as multi-location refresh programs to maintain coast-to-coast brand consistency. For more information: www.powerhousenow.com