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

Leading Nordic super premium ice cream manufacturer 3 Friends partners with Sentica to accelerate growth in Northern Europe

3 Friends has grown in less than ten years to offer its tubs and sticks with natural ingredients to over 5,000 stores in Sweden and Finland, with over €10 million in revenue. The partnership with Sentica is another key strategic step in the company’s growth plan, following the significant investments in recent years to strengthen the organisation, expand production capacity and introducing new product categories.

With the additional support, 3 Friends aims to speed up its expansion into new markets with the purpose of creating a new Nordic consumer brand success story. "With the knowledge and resources of the three founders we have managed to reach the current stage, but we recognised the need for added resources in order to take the next step. During discussions with Sentica we felt that our ideas about the future of the company are very much in line", comments the Chief Executive Officer Heikki Huotari about the transaction.

Press release

Leading Finnish workwear brand Dimex gains Sentica as a new majority owner

Finnish private equity company Sentica will support Dimex in its future growth. Dimex is a family company founded in 1982 in Leppävirta, Northern Savonia region in Finland. The company is known for heavy duty workwear and no bullsh*t dimexattitude. In the transaction, Sentica will become the majority owner of the company and current owners, the Krogerus family and Petteri Tirkkonen, will remain as significant minority owners. Riitta, Tuire and Pete will continue in the Dimex management. “With Sentica we will get air under our wings. Our values and dreams are in line and that is what makes us such a great combo. We had to consider this decision very carefully, but the dominating feeling at the moment is excitement” comments Riitta Krogerus.

Press release Dimex June 2 2021

Sentica has sold all of its shareholding in Solteq

The funds managed by Sentica, consisting of Sentica Buyout III Ky and Sentica Buyout III Co-Investment Ky (together “Sentica”), have sold all of their shareholding in Solteq Plc (“Solteq”). Sentica has sold today a total 4,801,293 shares in Solteq to a group of institutional investors at a price of EUR 4.70 per share.

“We announced on 26 April 2021 our plans to reduce Sentica’s ownership in Solteq. While Solteq is positioned to continue to perform well in the future, it was now time for us to sell down our ownership and finalise our exit. The share sale carried carried out today enabled many renowned investors to become shareholders in Solteq, which will provide an excellent basis for both the current and new shareholders to continue from, says Sentica’s Managing Partner Mika Uotila.

OP Corporate Bank plc acted as Sole Bookrunner in connection with the share sale. Borenius Attorneys Ltd acted as Sentica’s legal advisor.

 

Press release

Vesivek issues a three-year SEK 300 million senior secured bond

The parent company of Vesivek Group, HLRE Holding Oy has successfully issued a new three-year senior secured bond in an amount of SEK 300 million. The market timing of the bond was favorable, and it was well-received by the investors. The diversified lender base comes from many geographies, among others, the Nordics, Czech Republic, Switzerland, and Spain.

Press release February 15 2021

Vesivek acquires Salaojakympit – the underground drain renovation specialist complements Vesivek’s roof renovation concept

Finland’s leading roof renovation and installation service provider Vesivek acquires Salaojakympit, the largest domestic provider of underground drain renovations to small residential houses. Following the merger, Vesivek Group is the largest roofing, gutter, roof security and subsurface drainage service provider in the Nordic countries, with net sales of €115 million and approximately 800 employees.

Press release Vesivek February 12 2021

Citec Group issues a 4-year SEK 290 million senior secured bond and aims to continue profitable growth

A new parent company of Citec Group issues a senior secured bond amounting to SEK 290 million. The group aims to continue profitable growth with medium-term target revenues of EUR 100 million and a minimum EBITDA margin of 10%.

Announcement Citec February 11 2021

Huld and Innogiant merge – making industrial software as user-friendly as consumer services

The international design agency Huld has agreed on a merger with Innogiant, specializing in design of digital products and services. Together, the two companies have 450 employees in Finland and the Czech Republic, with a combined turnover of approximately EUR 35 million.

Press release Huld December 1 2020

Sentica divests SuperPark to investor consortium

Sentica has divested its ownership in SuperPark in a transaction in which a consortium of investors acquired all SuperPark shares held by Sentica through an investment company SP Capital Oy. The transaction was completed in in beginning of November 2020.

RD Velho and SSF are now Huld – aiming at the peak of European technological design

RD Velho and SSF (Space Systems Finland) are now Huld. The company employs over 400 people in Finland and Central Europe (the Czech Republic) and has a turnover of over 30 million euros. The new growth company, generated by the merge and the brand reform, humanizes technology and builds intelligent product and software solutions for world beyond tomorrow.

Press release Huld February 6 2020

Sentica is looking to strengthen its team with an Investment Analyst

Sentica is looking to strengthen its team with a full-time Investment Analyst. Please see the following link for details: Sentica - Investment Analyst

VMP changes name to Eezy and publishes a new strategy for 2020-2022

The new brand supports the company’s mission to fulfil working life dreams while aiming for market leader position.

The new name of VMP is Eezy. As a result of the merger with Smile and previous acquisitions, the company previously known as VMP has operated under several simultaneous brands until now. The goal of the name renewal is to combine all services under one brand, Eezy, thus supporting integration. The decision on the new name, Eezy Oyj, will be made at the extraordinary general meeting in December.

Company release VMP November 20 2019

RD Velho and SSF merge – New company seeks growth in digitalisation of service business

The design agency RD Velho and the software company SSF have agreed to merge. The companies employ 400 people in Finland and the Czech Republic and have a combined turnover of approximately EUR 30 million. The new company offers an internationally unique combination of software and product development expertise.

Press release RD Velho September 12 2019

Celsius Holdings Inc to acquire Nordic wellness company Func Food Group

On September 12th 2019, Celsius Holdings Inc, (Nasdaq: CELH) maker of the leading global fitness drink, CELSIUS®, announced that the company has entered into a definitive agreement to acquire Func Food Group Oyj (“Func Food”).

Press release Func Food Group September 12 2019

VMP and Smile unite to become the front-runner of the HR services industry

VMP Plc (“VMP”) has on 5 July, 2019 signed a share purchase agreement with NoHo Partners Oyj (“NoHo Partners”) and the minority shareholders of Smile Henkilöstöpalvelut Oyj (“Smile”) to acquire the share capital of Smile (the “Transaction” or “Combination”) as share consideration. The Transaction brings together two industry leading HR services companies, who together have a stronger market position and a better ability to reform working life. The Combination is a strategically important step for both companies, enabling investments into digitalisation and developing new services. The Combination is expected to create value for the company’s customers, employees and shareholders.

Company release VMP July 5 2019

Sentica becomes the majority owner of Picnic, La Torrefazione and procurement company Europicnic

Finnish private equity company Sentica becomes the majority owner of Picnic company group as the operative management and Picnic’s founder Mikael Swanljung with his family continue as significant owners. ”Our ambition is to develop Finland’s most passionate café company and expand to the whole country”, states Picnic’s CEO Petteri Laurikainen.

Press release Picnic May 7 2019

VMP becomes a leader in employee surveys and organisational development by acquiring Corporate Spirit

VMP Plc acquires Corporate Spirit, which specializes in employee, management and expert surveys as well as organisational development from the company founder, Mr. Jukka Pohjola. Through the acquisition, VMP strengthens its recruiting and organisational development business area and expands its service offering.

Company release VMP April 1 2019