Funds associated with Apollo’s Clean Transition Equity strategy and family-owned investment company, Rettig Oy Ab, a strategic minority co-investor, have acquired a 94.53 percent equity ownership stake in Purmo Group, a company specializing in indoor climate solutions.
Apollo and Rettig made the public tender offer through the special-purpose vehicle, Project Grand Bidco (UK) and plan to acquire the remaining outstanding shares through the vehicle. They also plan to delist Purmo Group from the Nasdaq Helsinki Stock Exchange soon, resulting in Apollo funds owning 80 percent and Rettig 20 percent of Purmo Group. After delisting, as a privately owned business, Purmo Group will continue to design, manufacture and distribute high-quality products and solutions to more than 100,000 customers in more than 100 countries.
“This exciting acquisition builds on more than $40 billion of energy transition and sustainability-related investments that Apollo funds have made across
