Project Grand Bidco (UK) Limited announces a voluntary recommended public cash tender offer for all the shares in Purmo Group Plc

Funds managed by affiliates of Apollo and Rettig Ltd (“Rettig”) form a consortium for the purposes of the voluntary recommended public cash tender offer for all the issued and outstanding shares in Purmo Group Plc (“Purmo Group”).

“Rettig is a family-owned investment company that creates value for generations, and the tender offer represents a transaction that is well in line with our stated strategic ambition of reducing our ownership in Purmo Group. At the same time, the tender offer enables us to continue supporting Purmo Group as a significant minority shareholder by providing insights and institutional knowledge gathered throughout our more than 50 years of ownership in Purmo Group. In its current setting, the company’s capacity to transform has been restrained, and we see it as a unique opportunity to be able to partner with the highly experienced and professional team at Apollo to bring the required resources and ambition to accelerate Purmo Group’s growth and clean transition journey, benefitting both the company and its employees. We at Rettig firmly believe that the tender offer represents an attractive opportunity for both Purmo Group and all of its shareholders”, said Matts Rosenberg, CEO of Rettig.

Further information:

https://purmogroup.tenderoffer.fi/en/

Matts Rosenberg, CEO, Rettig: Tel. +358 40 198 9978

Rettig is a family-owned investment company that creates value for generations. Our investment strategy focuses on both listed and private assets and sets out to generate attractive over-the-cycle returns while maintaining an appropriate risk level in the portfolio. A cornerstone in our investment strategy is the ambition to cooperate with professional and like-minded partners and co-investors. Rettig is controlled by the 9th generation of the von Rettig family.