Midinvest exits Produal
3 October 2012
Midinvest exits Produal
The Finnish Produal Oy, a market leader in building automation measurement technology, has a new owner. The private equity funds managed by Vaaka Partners Ltd have acquired a majority stake in the company. In the buyout, Midinvest Management Oy exits Produal. The aim of the new arrangement is to support Produals growth in its current markets and step up its successful internationalisation efforts.
Produal Oy is a Finnish specialist and pacesetter in building automation measurement technology. It designs and manufactures modern, high-quality and installation-friendly measurement and control devices. The technical innovations in Produals products have become a standard for measurement devices in Finland and internationally.
During the past few years, Produal has made considerable investments in internationalisation. In Sweden, Produal has a strong and stable position, and the company has quickly become the third largest supplier in the Danish market. In Russia, Produals Moscow-based subsidiary company provides services in Moscow and the surrounding regions. In France, Produals sales have grown well through its new subsidiary established this year.
The new ownership arrangement will enable Produal to accelerate its international growth.
"In the past few years, Produals internationalisation efforts have been strong and determined. Vaaka Partners wants to support Produals growth in its current and new markets based on the companys strengths: customer-oriented approach, delivery reliability, and high product quality," says Investment Director Antti Salmela from Vaaka Partners.
According to Produals Managing Director Ari Mårtensson, the company now has the best possible conditions for accelerating its internationalisation.
"At international level, the energy efficiency of buildings, good indoor air quality, comfort, and various energy certificates are dominating trends. Modern building techniques, the growing use of automation, and new European regulations have increased the number of measurements required. Produals products meet these targets and requirements very well," says Mårtensson.
Midinvest Management that is now exiting Produal has, together with Produals management, build a strong foundation for the company
"We are very happy with this buyout and the fact that the new owner will enable a wider distribution of Produals innovative products. The new owners have excellent resources for expanding Produals business operations internationally," says Investment Director Jukka-Pekka Korja from Midinvest Management.
Produals growth has been rapid during the past two years. In the financial year ending in June 2012, the groups turnover was EUR 11.9 million. It has 72 employees.
Produal Oy, Managing Director Ari Mårtensson, tel. +358 400 702 123, email ari.martensson(at)produal.fi
Vaaka Partners Ltd, Investment Director Antti Salmela, tel. +358 50 540 4640, email antti.salmela(at)vaakapartners.fi
Midinvest Management Oy, Investment Director Jukka-Pekka Korja, tel. +358 40 560 3938, email jukka-pekka.korja(at)midinvest.fi
Produal Oy is a Finnish specialist and pacesetter in building automation measurement technology. Produal was established in 1987 in Kotka, Finland. It designs and manufactures modern, high-quality and installation-friendly measurement and control devices. The technical innovations in Produals products have become a standard for measurement devices in Finland and internationally. In addition to Finland, Produals products are available in many European and Asian countries through its distributors. Produal Sverige AB, established in 1997, is Produals sales company with a stable position in the Swedish market. Produal also has subsidiary companies in Denmark, Russia (Moscow), and France. Further information is available at www.produal.com.
Vaaka Partners Ltd is a Finnish private equity firm focusing on small and lower middle market buyouts. In total, its portfolio companies have a combined turnover of approximately EUR 400 million and about 3,000 employees. Examples of Vaaka Partners current investments include the heating plant supplier Renewa, the building services provider EMC Talotekniikka, the pet product retail chain Musti ja Mirri, and the property management service provider Ovenia. Further information is available at www.vaakapartners.fi.
Midinvest Management Oy is a private equity investor specialised in growth funding and ownership arrangements of small and medium-sized enterprises. Midinvest Management manages an investment capital totalling EUR 70 million, and its investors are Finnish institutional investors. Midinvest Managements current investments include, for example, Aidon Ltd that produces remote-readable energy meters, Polarmatic Oy that specialises in heating systems for the concrete industry, Pisla Oy that manufactures hardware and furnishing products, and Tikomet Oy that specialises in hard metal technology. Further information is available at www.midinvest.fi.