By Amit Chowdhry Today at 8:20 PM

Vesterra Capital Partners, formerly known as Comvest Private Equity, announced the acquisition of PHFM 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. Financial terms were not disclosed.

PHFM, based in Columbus, Ohio, operates an asset-light, vendor-managed model powered by proprietary technology, serving multi-location businesses across retail, restaurant, healthcare, education, grocery, industrial, and other end markets through a national network of vetted providers.

The company will continue to be led by its existing management team, including CEO Michelle Egan.

Support: Baird served as financial advisor and Kirkland & Ellis served as legal advisor to Lincolnshire and Powerhouse, while Citizens and Piper Sandler & Co. served as financial advisors and Paul Hastings served as legal advisor to Vesterra.

KEY QUOTES:

“We are excited to welcome PHFM to the Vesterra portfolio and to partner with Michelle and her talented team. 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.”

Maneesh Chawla, Managing Partner, Vesterra

“We are thrilled to partner with Vesterra, whose specialized experience in facilities services and collaborative approach align closely with our vision. The Vesterra team shares our commitment to investing in our people, technology, and service capabilities.”

Michelle Egan, Chief Executive Officer, PHFM