Mutares to acquire Palmia

Avance advises listed private equity holding company Mutares SE & Co. KGaA in the acquisition of Palmia Oy from the City of Helsinki. Palmia offers food, real estate, cleaning, and security services. The company is expected to generate revenue of approx. EUR 120 million in 2022 and currently employs ca. 2,400 employees.

The transaction is subject to approval by the Finnish Competition and Consumer Authority and expected to close in Q1 2023.