December 4, 2023 Promeco Group Oy

Promeco’s future continues to grow stronger  

Man photographed from behind working with electrical panel

Promeco has in recent years implemented its chosen strategy towards business diversification and significant growth. Despite the challenges of the operating environment and global markets, we have managed to increase our net sales from 50 million € to over 80 million € in the last financial year. We currently employ nearly 600 people in our units in Finland and Poland. We are proud to have highly skilled people with 17 different nationalities. Our customers are industry-leading technology companies.

We have identified many interesting and significant projects in the marine, energy and rail business areas. The green transition offers us a wide range of business opportunities, and we want to be strongly involved in them also in the future and develop our operations to serve our customers more comprehensively and responsibly.

Promeco has operated as a family-owned company for over 40 years. In addition to operational business development, Promeco has strived to implement sustainable ownership suitable for each stage of the company’s development, and family business values will continue to be very important to us also in the future. We have aimed for long-term ownership for the benefit of the company, our personnel and our customers.

Our ambition to grow and develop our operations also in the future has brought us into a situation where the investment group Finda has acquired a 40% stake in Promeco. After the transaction in November 2023, the Ojala family’s investment company KMT Invest Oy will continue as an active owner of Promeco with a nearly 50% stake. Since 2016, in addition to the Ojala family, Promeco has been owned by Aurejärvi Group with approximately 10% ownership. Both Finda and Aurejärvi Group are backed by the same people with whom we have had the pleasure of working for a long time and have formed a shared vision of Promeco’s future opportunities.

Finda is a Finnish investment group that strives for long-term shareholder value growth. Finda’s long history goes back to the telephone business in Western Finland, which began in the 1880s. Since 2007, Finda has operated as an investment group with investment assets of approximately one billion euros.

As owners, we share the same values and desire for the long-term development of Promeco. This arrangement brings financial stability to Promeco and provides an opportunity for investments required for growth. Together we are even better owners and we are happy that this strongly supports Promeco’s growth strategy and ability to serve our customers even better and more diversely.

Promeco’s Board of Directors consists of diverse expertise in different areas and will continue to support Promeco’s operative management. Ted Roberts will start as the Chairman of the Board on 12.12.2023. Jenni von Veh, who has served as Chairman of the Board for eight years, will become Vice Chairman of the Board and Riitta Palmen, Adel Hattab, Akseli Reho and Antti Ojala will continue as members of the Board.

Further inquiries:

Ville Ritakorpi +358 40 747 9907

Jenni von Veh +358 500 583 730

Ted Roberts +358 40 084 6046

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