We advised a consortium led by Terra Firma and Metric Capital, two of Europe’s leading private equity firms, with the sale of Parmaco, a provider of high quality, flexible modular education buildings, to global private markets firm Partners Group. We advised the client in relation to Estonian aspects of the deal, acting as local counsel in Estonia through the Bird & Bird Helsinki office.

Continuous development throughout the years

Established in 1966 and headquartered in Tampere, Finland, Parmaco designs, builds and leases high-quality modular school and child day-care buildings to municipality customers. With a portfolio of 353 buildings and ca 180 employees, it is the leading leasing company of modular public educational buildings supporting communities across Finland, with a growing presence in Sweden.

Since 2018, over  EUR 200 million of capital has been invested into Parmaco, which now provides educational space to 35,000 children in over 80 municipalities across Finland and Sweden. The portfolio has grown by ca 50% and now totals over 280k sqm of rentable space. Parmaco’s modular buildings also offer strong ESG characteristics, with a greenhouse gas footprint generally 54% lower than traditional concrete-frame schools over the whole building lifecycle.

The transaction, resulting from a sales process run by Deutsche Bank, is subject to merger control approval from the Finnish Competition and Consumer Authority.

Our project team

Our team advised the client on Estonian law aspects of the deal and helped conduct legal due diligence of the vendor. Our client team was led by senior associate Piret Lappert supported by associate Kätlin Helena Sehver. The team also included senior associates Sandra Mikli and Lise-Lotte Lääne, as well as associate Nele Suurmets.