CVC Joins Investor Group Backing Swedish Property Manager Odevo

CVC Capital Partners Plc has agreed to take a stake in Swedish property manager Odevo AB.

The private equity firm will join a group of investors led by investment firm Fidelio Capital, according to a statement that confirmed an earlier report by Bloomberg News. The transaction values Odevo at more than $3 billion, Bloomberg News reported.

Odevo was formed through a combination of Sweden’s Nabo and SBC with UK-based Rendall & Rittner. It has since grown rapidly through further acquisitions, buying companies including Finnish property manager Retta Isännöinti Oy and William Douglas Management, which gave it a ...