Author: laurasarvi

Intera invests in Cervi, a Finnish specialist in ventilation, clean indoor air and cooling. With the transaction, Intera and Cervi will be building an even stronger domestic specialist in ventilation and cooling and Cervi will take a significant step towards its ambitious growth targets.

 

Founded in 2014, Cervi operates in the Helsinki Metropolitan Area and in other Finland’s largest cities and growth centres. Cervi’s services cover all the work required to maintain, repair, and renovate ventilation systems. The company also services, repairs and monitors refrigeration and cooling equipment. Over the last five years, Cervi’s turnover has grown by an average of more than 50% per year. In 2021, the company’s turnover was around €16 million.

– We are thrilled to be part of the future story of Cervi. Our role is to ensure that Cervi gets the support it needs to grow. Cervi is a unique company in Finland whose strong focus on indoor air quality, ventilation and cooling has paid off. The company has vast growth potential, comments Janne Näränen, Partner at Intera.

Cervi’s growth relies heavily on its role as a specialist in ventilation and cooling, which the company intends to expand even further in the future. Cervi’s growth plan is to move towards a more comprehensive service offering continuously. Indoor environment solutions are built around the development of ventilation, cooling and heat recovery, with smart technology playing a key role.

– Together with Intera, we are now building an even stronger domestic specialist in ventilation and cooling. Our goal is to be the leading specialist and partner in energy-efficient ventilation and cooling solutions and the most sought-after employer in the industry. Our target is to increase Cervi’s headcount to a thousand and turnover to €100 million, says Petri Valve, CEO of Cervi.

 

Further information:

Janne Näränen
Partner, Intera Partners
janne.naranen@interapartners.fi
tel. 050 566 4869

Petri Valve
CEO, Cervi Talotekniikka Oy
petri.valve@cervi.fi
tel. 0400 435 447

 

Intera Partners is a Finnish private equity investor focused on the growth and internationalisation of companies. Intera manages three active funds with a combined capital of €785 million. The funds have a total of 11 portfolio companies with a combined turnover of €900 million and currently employ a total of 11 000 people.

Founded in 2014, Cervi operates in the Helsinki Metropolitan Area, Kymenlaakso, Pirkanmaa, Kanta-Häme and Southwest Finland. The company employs around 200 ventilation professionals. Cervi’s services cover all the work required to maintain, repair, and renovate ventilation systems. We provide consultation and collaboration, including ventilation design. We also service, repair and monitor refrigeration and cooling equipment. Our mission is to be the best ventilation partner for our customers. We want to truly understand our customers’ needs and provide them with solutions and services to improve indoor air quality and, thus, the quality of life. In addition to financial savings, we save energy and natural resources and reduce our carbon footprint.

Intera invests in Duunitori, a Finnish digital job search and recruitment services provider. As a result of the agreement, Intera will become a partner to the Finnish market leader and innovator that helps match job seekers and recruiters. Duunitori has seen substantial growth over the past years and has also expanded its operations to Sweden. The partnership aims to further strengthen Duunitori’s growth and accelerate its internationalisation.

Duunitori is the largest job board and recruitment services provider in Finland with a mission to help match job seekers and recruiters. In addition to its highly popular job board, the company offers recruiters a wide variety of services from recruitment marketing to employer brand strategy development. In 2021, Duunitori became the Finnish market leader in job search services and started commercial operations in Sweden under the name Jobbland. In the last five years, Duunitori’s turnover has seen average annual growth of 70 percent with a turnover of €14 million in 2021.

Intera Partners is excited to join forces with a company that has a strong track-record in revolutionising the recruitment industry. As a result of the agreement, Intera will become a majority owner in Duunitori and form a close partnership with the company to support growth and internationalisation.

“Duunitori is in a key position to push the whole recruitment industry forward. The company combines strong experience in digital recruitment marketing with a corporate culture that encourages innovation. Duunitori has quickly become the market leader in Finland. We are very excited about the partnership and look forward to continuing the growth story also beyond Finland”, states Essi Hasu, partner at Intera.

Duunitori was founded in 2009 by Thomas Grönholm and Martti Kuusanmäki. Currently the company has around 90 employees. The partnership will create a stronger foundation for Duunitori to develop its services and address customer needs also outside of Finland and Sweden.

“Our team has done excellent work in modernising job search and recruitment. We want to make recruitment smarter in Finland and abroad, and now we can create this change together with Intera. After careful consideration we decided to partner with Intera, a responsible and reliable investor that has been an accelerator of growth and internationalisation for several successful companies”, says Thomas Grönholm, CEO and founder of Duunitori.

Following the transaction, Grönholm and Kuusanmäki will continue in their leadership roles and as significant shareholders in Duunitori. Additionally, employee ownership in the company will be further expanded.

 

Additional information:

Essi Hasu
Partner, Intera Partners
essi.hasu@interapartners.fi

Thomas Grönholm
CEO and founder, Duunitori
thomas.gronholm@duunitori.fi

 

Intera Partners is a Finnish private equity firm with a focus on growth and internationalisation. Intera manages three active funds with a total capital of EUR 785 million. The funds are invested in a total of 11 portfolio companies with approximately 11,000 employees and a combined revenue of EUR 900 million.

Duunitori is a modern recruiting marketing company and job board. It helps organizations to reach the best candidates and provide job seekers the easiest way to find jobs and career advice. The Helsinki and Stockholm based company employs over 90 people and serves around 2 000 customers with various needs in recruiting and employer branding.  By using the latest marketing technologies and social media, Duunitori offers its customers the most efficient access to talent. Duunitori was founded in 2009 by two entrepreneurs who wanted to challenge the status quo in the recruitment industry. During the last three years the company has grown into the most visited job and career media in Finland with almost 20 million monthly pageviews at Duunitori.fi.

Find more about Duunitori at their website.

 

Photo: Duunitori / Niko Raappana

Partner Juhana Kallio has been appointed as the new Managing Partner of Intera, as of July 2022. Current Managing Partner Jokke Paananen continues in his role as Chairman of the Board.

Jokke Paananen is Intera’s co-founder and has been Managing Partner since 2013 and Chairman of the Board since 2021.

”During the past 15 years, Intera has developed into a winning team and one of the leading private equity firms in Finland. I am confident that Juhana, with his strong experience and vision, will lead Intera successfully forward”, says Paananen.

Juhana Kallio, partner at Intera since 2015, has extensive experience as an investment professional and is responsible for Intera’s investor relations.

”Our aim is to be a trusted partner for entrepreneurs and management teams with a specific focus on accelerating growth and internationalization. Our experienced team has a strong track record – during our ownership, our portfolio companies have on average tripled their turnover and nearly 60 percent of the companies have expanded internationally. I would like to thank Intera’s partners for their confidence in me. We are in a great place to continue developing our operations”, Kallio states.

Intera is a partner for entrepreneur-led businesses which it supports in reaching their full growth potential. The firm’s most recent fund, Intera Fund IV, was closed at €335m in 2021 and it is the largest private equity fund raised by a Finnish team to date. Intera’s success stories of significant international growth include e.g. Kamux, Sitowise and Renta.

 

Additional information:

Juhana Kallio
juhana.kallio@interapartners.fi

Jokke Paananen
jokke.paananen@interapartners.fi

 

Intera Partners is a Finnish private equity firm with a focus on growth and internationalisation. Intera manages three active funds with a total capital of EUR 785 million. The funds are invested in a total of 10 portfolio companies with an estimated combined revenue of EUR 900 million and 11,000 employees.

Intera is pleased to announce its exit from Merivaara Group as Lojer Oy, a Finnish hospital furniture manufacturer, acquires the group. During Intera’s holding period, which began in 2013, Merivaara has developed into a world-class specialist in easy-to-use operating room systems and solutions, and expanded its international distribution network. Merivaara continues its international growth as part of Lojer.

Merivaara Group is a pioneer in intuitive healthcare technology and industrial design, with a particular focus on solutions that support operating room operations. The company was established in 1901, and started manufacturing metal beds, which improved hospital hygiene significantly. Today, Merivaara’s systems, equipment and services improve patient safety and increase the quality and efficiency of surgical treatment in leading international hospitals.

“Merivaara combines a heritage of being a trusted equipment supplier to the healthcare sector since the early 1900s, with internationally recognised technological expertise. During Intera’s holding period, the company has developed into a world-class specialist in surgical products and solutions with a special focus on user-friendliness. Merivaara’s strong product portfolio and investments in its distribution network have helped the company to expand in international markets. With Lojer, the conditions for further international growth are excellent,” says Christoffer Zilliacus, Partner at Intera Partners.

“The transaction is strategically important to Lojer. We will add new product groups to our portfolio, such as operating room luminaires, control systems and roof centers. Merivaara has an extensive portfolio of patents and trademarks, and together we can invest even more in product development. The acquisition also makes us more international and opens new export markets to England, Germany, and the United States, among others. Our goal is to become an even more interesting partner for both hospitals and distributors of health technology products,” said Ville Laine, CEO of Lojer.

Merivaara will become a subsidiary of the Lojer Group, and all of Merivaara’s approximately 60 employees in Finland and Sweden will continue to work for Merivaara. Production will continue in Lahti, and co-operation with customers and partners will continue as before.

The parties have agreed not to disclose the financial details of the transaction.

 

For further information, please contact:

Christoffer Zilliacus
Partner, Intera Partners
christoffer.zilliacus@interapartners.fi
+358 40 559 56 38

 

Intera Partners is a Finnish private equity firm with a focus on growth and internationalisation. Intera manages three active funds with a total capital of EUR 785 million. The funds are invested in a total of 11 portfolio companies with approximately 11,000 employees and a combined revenue of EUR 900 million. www.interapartners.fi

 

Merivaara Group is a pioneer in intuitive health technology and industrial design, with a particular focus on solutions that support operating room operations. The base for long-standing customer relationships date back to 1901, when the company started manufacturing iron hospital beds, significantly improving hospital hygiene. Today, the company’s software, equipment and services improve patient safety and increase the quality and efficiency of surgical care in the world’s leading hospitals. Merivaara’s headquarters, manufacturing and product development are located in Lahti, Finland. The company operates in more than 120 countries and employs approximately 60 people. www.merivaara.fi

 

The Lojer Group is the largest manufacturer of hospital and medical furniture and a provider of lifecycle services in the Nordic countries. Together with its subsidiaries, Lojer is the leading distributor of physiotherapy equipment and supplies in the Nordic countries. The company’s factories in Sastamala, Hollola and Kempele produce, among other things, hospital beds and operating, examination and treatment tables. Founded in 1919, the company employs around 270 people after the acquisition and is the largest Finnish employer in the sector. Turnover excluding the impact of the acquisition is more than EUR 43 million and after the transaction almost EUR 60 million. Exports account for around 65 per cent of Lojer’s total production and around 95 per cent of its operating tables. www.lojer.com

 

Photo: Merivaara

Intera Partners’ team has been strengthened with two new Investment Professionals with great experience and background. Niklas Lindbäck joined Intera in March, and Kati Reinikainen in April.

Previously, Lindbäck worked as a management consultant focusing on strategy and due diligence projects at Boston Consulting Group (BCG). He has also done internships at Danske Bank and CapMan. Lindbäck holds an M.Sc. in Finance.

”Intera’s reputation, investment strategy and the people I met really convinced me. Identifying success stories and developing them together with entrepreneurs is what interests me in private equity. Intera has strong experience in this. I am excited to create partnerships together with the entrepreneurs and other talented and motivated people at Intera”, Lindbäck shares.

Reinikainen joined Intera after having worked at McKinsey & Company as a consultant focusing on private equity and transaction projects. Previously, she has worked as an intern both at the Finnish pension insurance company Elo and Intera. Reinikainen holds an M.Sc. in Industrial Engineering and Management.

“At Intera, I’m most inspired by building growth together with the entrepreneurs, and I’m already looking forward to getting to know new companies and entrepreneurs. Already during my internship at Intera, I enjoyed the ambitious yet relaxed culture. I believe that working at Intera provides a great opportunity for further professional growth as part of an experienced team of investment professionals”, Reinikainen tells.

Intera focuses on accelerating growth and strengthening the strategic position of its portfolio companies, working in close cooperation together with the management and board of directors. Lindbäck’s and Reinikainen’s previous experience is a great addition to Intera’s team. Intera has now 14 Investment Professionals, whose role as partners for entrepreneurs and company management is an important part of Intera’s approach.

Intera is a Finnish private equity firm with a focus on growth and internationalization. Intera manages three active funds with a total capital of EUR 785 million. The funds are invested in a total of 11 portfolio companies with approximately 11,000 employees and a combined revenue of EUR 900 million. 

As a result of the arrangement, Intera becomes a new partner and shareholder in the company developing solutions to help improve the energy efficiency in properties.

HögforsGST is a Finnish company located in Leppävirta that specialises in the development, manufacture, sale and marketing of high-quality heating and cooling systems and is the leading heating substations supplier in the Nordic countries. The company’s objective is to reduce energy losses in properties while efficiently bringing down living costs and greenhouse gas emissions derived from heating and cooling.

Intera recognized HögforsGST’s expertise and capability to operate within a market that is currently in great transition from the viewpoint of individual property owners as well as the whole heating system.

”Solutions related to energy conservation are more topical than perhaps ever before. Heating and cooling are one of the greatest expenditures related to properties. The rising energy prices will increasingly add to the need to keep living costs under control. Meanwhile, we also need new solutions to combat climate change. HögforsGST helps to bring costs down as well as build a more sustainable world—this is a combination of aspirations we are happy to support,” states Tuomas Sarkola, partner in Intera.

HögforsGST’s high-quality heating solutions improve the energy efficiency in properties – by saving energy the company helps to reduce greenhouse gas emissions. In addition, the company’s hybrid solutions enable the possibility to utilize different renewable energy sources—such as waste heat—in the heating and cooling of properties.

Intera wishes to offer HögforsGST more opportunities to increase investments in product development and— together with the management and key personnel—to take the company to the next level both in Finland and internationally.

”For decades, we have developed solutions to reduce energy losses and are deeply pleased to join forces with our new partner Intera to step up our growth and product development. Together with Intera we can further develop our solutions to match the needs for sustainable energy consumption while taking the whole heating sector towards a more sustainable future,” says Antti Hartman, CEO of HögforsGST.

Other shareholders in the company are HögforsGST’s key personnel that will continue as shareholders and employees in the company. The arrangement has no effect on HögforsGST’s current customer agreements or personnel.

 

More information:

Tuomas Sarkola
partner, Intera Partners
tuomas.sarkola@interapartners.fi
+358 40 845 6493

Antti Hartman
CEO, HögforsGST
antti.hartman@hogforsgst.com
+358 400 738 325

 

Intera is a Finnish private equity firm with a focus on growth and internationalization. Intera manages three active funds with a total capital of EUR 785 million. The funds are invested in a total of 10 portfolio companies with a combined revenue of EUR 900 million and 11,000 employees.

HögforsGST is a Finnish company that specialises in the manufacture, sale and marketing of high-quality heating and cooling systems. We are the leading supplier of heat substations in the Nordic countries, and our modern Fiksu- and HybridHEAT -heating solutions reduce both emissions and costs caused by heating. We manufacture all our products in our factory, which is located in Leppävirta along with our company headquarters. We have a comprehensive sales network throughout Finland and subsidiaries in Sweden and Norway. HögforsGST employs 140 people and has an annual turnover of approximately EUR 30 million, which largely consists of exports.

Intera Partners aims to complement the support it offers for the growth and internationalization of its portfolio companies. To support this goal Intera strengthens its competence in Human Resources through the appointment of Pii Raulo as Operating Partner as of January 18, 2022.

Pii joins Intera from YIT where she acted as Executive Vice President, HR and was member of the Management Team. She has extensive experience in managing HR in demanding change and M&A situations as well as from key people recruiting, human resource development and health and safety issues. Prior to YIT, Pii worked at McKinsey.

“At Intera, we see daily how important it is for growth companies already from an early stage to be able to identify key people, build sustainable operating models and corporate identity as well as to develop competences. Pii is a valuable addition to our team as she has vast experience in these matters. We believe that Pii will be able to quickly apply her expertise and further strengthen our ability to support the growth of our companies”, Jokke Paananen, Managing Partner at Intera Partners, says.

 

Intera is a Finnish private equity firm with a focus on growth and internationalization. Intera manages three active funds with a total capital of EUR 785 million. The funds are invested in a total of 11 portfolio companies with a combined revenue of EUR 1.1 billion and 12,000 employees.

Stella Kotipalvelut Oy is a company specialized in home care services, with a turnover of EUR 24 million in 2020. The company’s business has grown strongly over the last years, and it has become one of the industry’s leading players in home care and personal assistance.

Finnish-owned 9Lives, which specializes in demanding mobile healthcare services, will acquire all shares of Stella Kotipalvelut Oy. The companies’ operations will be fully merged during 2022. As a result of the transaction, Stella Care, which is owned by Intera Fund II Ky, will no longer have any operational business, as the company had already previously sold its other businesses.

Stella Kotipalvelut was established by Intera in 2014, when Doctagon Oy, which provides home health services, and the home cleaning service company Kodinavux Oy merged to form Stella Kotipalvelut Oy. The company’s goal was to become a leader and pioneer in home services. Stella Home Services has continued its customer-oriented growth story through acquisitions and strong organic growth. Today, Stella employs approximately 1,600 health care and personal care professionals who will join 9Lives as existing employees.

This year we have given a donation to Tukikummit foundation that aims to help children and adolescents that are at risk of exclusion from the society for financial reasons.