Odevo Becomes Leading Property Management Company in Finland with Retta Isännöinti Acquisition
People in the image: Daniel Larsson, CEO of Odevo & Anders Gylling CEO of Retta Isännöinti.
Odevo, the fast-growing international leader that is driving change in the traditional property management industry, continues its expansion in Finland with the acquisition of the market leader in property management, Retta Isännöinti Oy. Retta Isännöinti, with close to 6,000 customers, 150,000 homes under management and 600 employees, will continue to operate under the Retta Isännöinti brand and will be a sister company to Kontu in Finland.
Anders Gylling, CEO, and his Retta Isännöinti management team will continue to lead Retta Isännöinti operations in Finland. Retta Isännöinti was previously owned by Altor. The acquisition underscores Odevo’s mission to become the leading force in the residential property management industry by leveraging the combined power of people and technology.
“I am very happy to welcome Anders Gylling and his team to the Odevo family,” said Daniel Larsson, CEO of Odevo. “We have an ambition to simplify living for people all over the world and drive innovation in technology and new services in a traditional industry. Retta Isännöinti shares the same drive and ambition, and joining forces allows us to invest in technology and deliver greater value to the Finnish customers.”
Odevo has a unique approach to building a leading international group by empowering strong local teams and companies while creating value across the group. By being part of the group, these companies can leverage their strengths and expertise while benefiting from the collective resources and support from Odevo.
“Joining forces with Odevo gives Retta Isännöinti a unique position to continue to be the leading force in Finland when it comes to advancing the residential property management market,” said Anders Gylling, CEO of Retta Isännöinti. “We share Odevo’s strong ambition to use the benefits of technology to improve both customer and employee satisfaction. Being part of an international group with clear focus on residential property management will strengthen our capabilities to further develop specific housing management solutions for our customers.”.
Odevo Finland today comprises of Retta Isännöinti and Kontu, a new and fast-growing property management company formed from the union of 10 property management companies over the past two years. Kontu currently has a revenue of USD 30 million, 2,400 customers and 340 employees. With the acquisition of Retta Isännöinti, Odevo has significantly increased its presence in Finland and, together with Kontu, is well-positioned to lead the Finnish market and drive positive change in the industry. Retta Isännöinti was previously owned by Altor.
“We are proud of the fantastic work by the management team at Retta Isännöinti,” said Johan Reiersen, Partner at Altor. “The past years have been a true partnership resulting in high-quality solutions. We look forward to following Retta as they reach new heights together with the global reach of Odevo.”
Odevo has grown more than 30 times in just four years and is now home to 7,000 employees with 1.4 million homes under management and an annual revenue of USD 720 millionOdevo plans to continue its strong growth journey, both organically and by attracting additional companies to join the group. This approach has secured leading positions in Sweden, the United Kingdom and the United States in just a few years.
For more information, contact:
Daniel Larsson, CEO Odevo
tel: +46 736404211
mail: daniel.larsson@odevo.com
Anders Gylling, CEO Retta Isännöinti
tel: +358 46 851 5868
Mail: anders.gylling@retta.fi
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