Valedo I invests in Corbel
July 27, 2011
Valedo Partners Fund I AB ("Valedo I") has acquired Corbel Oy ("Corbel"), a market leader in property management services in Finland, from Sentica Partners. Corbel's existing management will continue to run the company and remain as significant owners and with support from Valedo implement a strategy for accelerated expansion.
Corbel provides a comprehensive range of various facility management services for property owners and investors, such as asset management, leasing, technical and administrative real estate management, financial management services as well as expert services, including energy management and property development. Corbel's client base includes both domestic and foreign property investors, user owners and tenants. Corbel's mission is to provide a high quality service, ensuring the best possible return on investment for property owners and investors, through professional and structured property management services.
"Corbel has very exciting future prospect - our ambition is to accelerate Corbel's expansion through providing new value-added services to our existing customers as well as through gaining new contracts with property owners that are increasingly outsourcing the administration of their real estate. Over the past few years, Corbel has grown substantially and we look forward to continuing and accelerating this growth plan with the support of Valedo."says Harri Oesch, CEO of Corbel.
Corbel operates nationwide in Finland and has approximately 120 property professionals in Helsinki, Espoo, Vantaa, Riihimäki, Turku, Lappeenranta, Tampere, Lahti, Pori, Jyväskylä and Oulu. Over the last few years, Corbel has achieved strong organic growth and today generates annual turnover of around EUR 11 million and manages almost six million square metres of property and more than 10,000 rental agreements in over 2,000 different addresses. Of the property base, approximately 70 per cent consists of commercial premises and 30 per cent of residential premises. The company's head office is located in Vantaa, Finland.
Corbel is acquired from private equity firm Sentica Partners, and alongside Valedo Corbel's management and the Board of Directors, will invest in the company. Terms of the agreed transaction are not disclosed.
Corbel is the final investment in Valedo I and consequently Valedo II has been launched.