DEAS Group divests its Danish Property Management activities

DEAS Group, a leading partner to real estate investors, operates in two key areas – DEAS A/S, the largest provider of property management and other real estate services in Denmark, and DEAS Asset Management A/S, a leading Nordic provider of fund and asset management services.  With the acquisition, PHM will have the most comprehensive range of services and expertise in property maintenance and management in Denmark. 

This combination aligns with the strategy outlined by Rikke Lykke, CEO of DEAS Group, of expanding DEAS A/S internationally. 

"Over the past years, DEAS A/S has transformed into a contemporary and forward-thinking enterprise, a journey that will continue with PHM. Through this transaction, we have identified the ideal owner for DEAS A/S, bringing benefits to our employees, investors, and our investors’ tenants. They can all look forward to continued dedication and expertise under new ownership," says Rikke Lykke, CEO of DEAS Group. 

With the acquisition of DEAS A/S, PHM becomes a significant player in property services and management in Denmark. 

“We are delighted to start our journey together with DEAS A/S. Together we will be able to offer our customers a comprehensive range of maintenance and property management services throughout Denmark," says Kasper Bygholm, CEO of PHM Denmark ApS, which already owns a number of Danish companies within property management and services. PHM Group, like DEAS A/S, combines a strong local presence with scale, expertise and investment. 

DEAS Asset Management A/S will continue as a focused provider of real estate fund and asset management services to both local and international investors in Denmark, Finland, Norway and Sweden. As a standalone entity with a dedicated and skilled team of experts, DEAS Asset Management A/S will benefit from a clear focus on its core fund and asset management offering.

Upon closing of the sale of DEAS A/S, Rikke Lykke will step down as CEO of DEAS A/S and continue as CEO of DEAS Asset Management A/S. 

“Experiencing the work ethic and dedication of the staff in DEAS A/S has been a privilege, and their efforts have been instrumental to the progress we have made towards our strategic goals. DEAS A/S is now moving forward with PHM Group, which I am confident will provide a good home for the business. I am grateful for the continued trust of Montagu and look forward to continuing the collaboration with our skilled team and supportive investors in DEAS Asset Management A/S,” Rikke Lykke says. “My priorities are to ensure a smooth transition of DEAS A/S to PHM, and to support the continued development of DEAS Asset Management A/S in the Nordics.” 

Chairman of DEAS Group, Sonny Nielsen, commented: “On behalf of the Board of DEAS Group, and majority owner Montagu, I am pleased that DEAS A/S will join the PHM Group and continue its positive development as part of an international property services group. We look forward to supporting the continued growth and development of DEAS Asset Management A/S, which has become a leading player with a strong presence in each of the Nordic countries. There is a need for continued consolidation of the fund and asset management industry in the Nordics, which DEAS Asset Management A/S has been part of since DEAS Group’s successful acquisition of Aberdeen Standard Investments’ direct Nordic real estate activities in 2021."

The transaction is subject to customary regulatory approvals, including approval by the Danish Competition Authority. The terms of the transaction will not be disclosed.

About DEAS A/S

DEAS A/S is a leading property services and consultancy business with over 30 years of experience. On behalf of private and institutional property owners, DEAS provides financial and technical real estate management and ancillary services for a portfolio of over 2,000 properties located throughout Denmark. DEAS A/S is supported by a dedicated team of more than 900 property specialists within lease administration, facility services, project management, energy management, climate and sustainability consulting, as well as public-private partnerships (PPP). DEAS A/S is headquartered in Copenhagen with offices in Aarhus and Aalborg. 

About DEAS Asset Management A/S

DEAS Asset Management A/S is a leading Nordic fund and asset management provider, with a total AuM of approximately 7 billion euros across over 500 assets in Denmark, Finland, Norway and Sweden. DEAS Asset Management A/S serves local, regional and international investors from offices in Copenhagen, Aarhus, Helsinki, Oslo, Trondheim and Stockholm. Its team consists of 100 highly skilled real estate specialists within fund management, asset management, transactions, project development and real estate financing. DEAS Asset Management A/S has a demonstrated track record of delivering attractive returns to investors across all main real estate sectors and risk profiles.

About PHM Group
PHM Group is a property services group whose mission is to care about people by taking care of their surroundings. PHM Group consists of the best local enterprises sharing the same values and motives, entrepreneurship, and a fair and responsible way of working. We believe that the only thing better than local service is local service with big resources. With PHM Group you do not have to choose between your well-known local entrepreneur and a big provider. With PHM Group, you get both.