Caverion acquires Maintpartner operations to boost industrial services

Caverion Oyj has entered into an agreement with Maintpartner Holding Oy to acquire all shares in Maintpartner Group Oy, including its subsidiaries in Finland, Poland, and Estonia. The transaction excludes Maintpartner Group Oy's Swedish subsidiary.

Maintpartner is an industrial maintenance and service provider operating in sectors such as energy, chemicals, metals, food, and manufacturing industries. The acquired business reported revenues of approximately EUR 137 million in 2018, with most of that revenue generated in Finland. The business employed approximately 1,500 people in 2018.

The transaction is subject to approval from competition authorities, and the transaction value has not been disclosed. This acquisition is expected to complement Caverion's expertise in industrial maintenance and services, as well as the development of digital solutions. It also expands Caverion's geographical reach and customer base within various industrial segments.

Following the completion of the acquisition, Caverion's Industrial Solutions division's revenue is projected to be approximately EUR 320 million, with an employee base of around 3,100 people. Caverion states that the acquisition aligns with its 'Fit for Growth' strategy, strengthening its Services business and aiming to establish a strong player in the Finnish industrial services market.