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Investment Firm Sells Stake in Pareto FM

Investment Firm Sells Stake in Pareto FM
27 November 2023

NVM Private Equity has sold its stake in Pareto FM, with the facilities services company announcing a new investor partnership from Pictet Alternative Advisors.

NWM announced that the deal had achieved a 4.2x return for its investors.

Reading-based Pareto FM’s investment partnership with NVM began in March 2021 as part of an £18 million management buy-out. Over the course of the three year relationship, Pareto increased its employee count from 141 team members to 509 today. The investment has enabled the company to achieve a near threefold growth in revenues in under three years.

David Rolfe, Investment Partner of NVM, said: “As soon as I met Andrew, I knew he was capable of something brilliant. His energy and passion for creating a differentiator in the FM market has been exceptional and we are delighted to have wholeheartedly supported his approach, whilst achieving a 4.2x return for our investors. 

“The team that has been assembled have all contributed and with the assistance of Mark Rogerson as Chair, and more recently Dave Richards as CEO, Pareto is well positioned for the next phase of growth, and we wish the team well as they continue to disrupt the market.”


"I’d like to extend my thanks to NVM and extend a warm welcome to Pictet. We look forward to changing the world together”.

–Andrew Hulbert

Vice Chair and Founder, Pareto FM


Secondary Buy-Out from Pictet Alternative Advisors


A secondary buyout led by Swiss headquartered investment firm, Pictet Alternative Advisors has also been announced by Pareto. David Richards will remain as CEO, alongside Founder and Vice Chair Andrew Hulbert.

David Richards, CEO of Pareto, said “With our new investment partner, Pareto is committed to expanding its portfolio of esteemed clients and creating more amazing opportunities for our team members. The senior leadership team of Pareto are all as excited as I am as we embark on our next stage of growth. I would like to say a huge thank you to NVM for their investment, trust and guidance over the last three years. Furthermore, I am happy to announce that Andrew Hulbert will remain in his role as Vice Chair with a continued focus on enhancing our service offering and serving as a valuable brand ambassador for Pareto. 

Andrew Hulbert, Vice Chair and Founder, added “Nine years ago we had the vision to create a technically led Facilities Management provider that would disrupt the market and be at the forefront of diversity and inclusion. Today, I am incredibly proud of what Pareto has achieved and am so excited for this next phase. Dave Richards has transformed Pareto since joining and with his competence, professionalism, governance focus and technical expertise he will continue to lead an incredible business. I’d like to extend my thanks to NVM and extend a warm welcome to Pictet. We look forward to changing the world together”.

Picture: a photograph of some members of the Pareto team. Image Credit:

Article written by Ella Tansley | Published 27 November 2023


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