Shoosmiths advises NVM on its latest exit
November, 2023 - Milton Keynes, England
Experts from Shoosmiths’ corporate team have advised NVM Private Equity on its successful exit from Pareto FM, a leading provider of technical-led facilities management services, to Pictet, the alternative investment arm of the Pictet Group.
The law firm acted for the private equity investor and other shareholders of Pareto FM on the deal, which sees NVM sell its stake in the Reading-based business. This follows the investor first backing Pareto FM in March 2021, as part of an £18m management buyout.
The firm’s deal team was led by corporate partner Sanjeev Sharma, with support from legal director Ami Bhatt, principal associate Adam Leszczynski, associate Nathan Turley and paralegal Jake Bowdler.
Over the course of NVM’s investment, Pareto has invested in its technology, with the business also increasing its number of employees from 141 to 509. This investment has enabled the company to achieve a near threefold growth in revenues in under three years.
This exit delivers a 4.2x return for NVM.
Sanjeev Sharma, corporate partner at Shoosmiths, said:
“With the support and investment from NVM, Pareto FM has now become a leading provider of technical and facilities services to the built environment. As the firm starts the next chapter of its growth journey, we’re pleased to have advised NVM on its exit from the business – enabling it to secure a strong financial return, and making way for a secondary buyout.”
David Rolfe, partner at NVM, said:
"We have thoroughly enjoyed working with Pareto FM and supporting their impressive growth journey. They have built a market-leading position in the technical-led FM space, delivering exceptional service to their clients and creating a great place to work for their employees. We are very grateful to Sanjeev and the Shoosmiths team for their excellent advice and support throughout the sale process, which enabled us to achieve a smooth and timely completion."
