News

Rudus acquires TerraWise’s Stone Aggregates business unit personnel and operations

TerraWise and Rudus, a Finnish manufacturer of stone-based building materials, have agreed on a transaction whereby TerraWise's Stone Aggregates business unit personnel and operations transfer to Rudus.

The business sale enables TerraWise to further focus resources on developing its project business operations, and Rudus to strengthen its offering particularly in Southern Finland. The transaction is scheduled to be closed at the end of May, following which the acquired operations become part of Rudus' offering and in total 35 professionals join the company.

TerraWise press release (in Finnish)

Huld and Devatus to unite – The boldest design house of the Galaxy keeps growing

Technology and design house Huld Oy has acquired software development house Devatus Oy. After the acquisition, Huld employs over five hundred people in Finland and Czech Republic. The combined turnover of the two companies is over forty million euros.

Both Huld and Devatus aspire to be the best work community for their talents. The unique combination of software and product development will give way for diverse projects for the employees and a wider service offering for customers. Huld and Devatus already have customers in common such as Danfoss, ABB and Wärtsilä. Now, the employees are also brought together.

Press release Huld 4.5.2022

Cyient to acquire Citec to gain plant and product engineering expertise and expand its presence in Europe

Cyient, a leading global technology solutions company with more than 14,000 associates across 19 countries, today announced that it is set to acquire Citec.

The acquisition and partnership with Citec will enhance Cyient’s position as a leader in the plant and product engineering services sector, strengthen its presence in the energy industry with a focus on clean energy, and expand its European footprint especially in the Nordic region, and in Germany and France. Funds managed by Sentica Partners and all other shareholders are selling 100% of their shares to Cyient. The acquisition is signed and is planned to be closed on May 10, 2022.

Press release Citec 25 April 2022

Sentica acquires majority stake in furniture and décor company Veke – focus on accelerating the omnichannel growth

Furniture and décor retailer Veke has taken its growth strategy into high gear by broadening its ownership base. Within a few years, the eCommerce forerunner has become a leading operator in the online segment. Private equity investor Sentica and Veke have a shared mission in developing Veke into one of the largest furniture and décor companies in Finland.

Veke has been among of the first companies in the furniture and décor eCommerce in Finland and has managed to grow into one of the largest retailers within a decade. The year 2021 delivered outstanding market activity and digital retail has continued its strong growth path. Veke’s revenue surpassed €30 million, and profitability continued positive development. Approximately 75 % of revenue was generated from eCommerce and the remaining share was delivered by its three brick-and-mortars in Vantaa, Oulu and Rovaniemi.

The partnership aims in further strengthening Veke’s market position. Veke’s inspiration-focused brand will be actively reinforced, the share of own private label brands increased, and digital business areas will be continued to develop. In the transforming furniture and décor market, omnichannel customer experience is continually in focus, which is supported by new brick-and-mortar openings such as Tampere this year.

Press release