Adelis exits Quattro Mikenti Group (”QMG”)

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Adelis Equity Partners Fund I AB (“Adelis”) sells its majority stake in the technical installation group Quattro Mikenti Group to KLAR Partners, which already owns the Sandbäckens Group in Sweden.

Adelis invested in the Quattro Mikenti Group in 2017 together with the company's management and key personnel. During Adelis' ownership, the Group's revenues in Finland have doubled from approximately EUR 100 million to approximately EUR 200 million and EBIT has increased approximately fivefold. At the same time, services share of total revenue has grown significantly to more than 50 percent of total revenue. During Adelis' ownership, QMG has become Finland's third largest provider of technical installation and maintenance services. The growth during these four years has been based on 17 acquisitions, of which the largest have been Movitek, Calto, LVI-Trio and Kuusitunturi Lahti. During the ownership period, significant operations in Russia were also divested.

”Kimmo Liukkonen and his management team have worked hard to grow QMG into one of Finland's largest technical installation companies. When Adelis became the majority owner, we created a strategic plan to accelerate acquisitions and expand the breadth of technical installation services. Now the Group's 34 companies cover almost the whole of Finland and offer a diverse and competitive range of technical building services. The decentralized business model keeps decision-making in subsidiaries close to the customer. QMG is now continuing its growth story in line with the Nordic strategy created by the new majority owner KLAR Partners, and we believe they will succeed in it”, says Rasmus Molander and John-Matias Uuttana from Adelis.  

”We in QMG's management team are grateful and satisfied with Adelis' strategic support and expertise as we have jointly developed and grown the Group. Nationwide market coverage and the expansion of the breadth of technical installation services are great achievements. Finnish entrepreneur-driven companies have found a good community in QMG and now we continue to grow it as part of a new Nordic group”, says Kimmo Liukkonen, CEO of QMG.

Adelis was advised by Carnegie, KPMG and Avance.

The parties have agreed that the purchase price will not be disclosed. The transaction is subject to standard regulatory approvals.

For further information:

QMG: Kimmo Liukkonen, CEO, +358 50 347 8997,

Adelis: Rasmus Molander, +46 70 823 7433,

Adelis: John-Matias Uuttana, +46 70 811 4410,

About Quattro Mikenti Group (QMG)

QMG Group is one of Finland's largest companies in the technical installation industry. It provides technical installation and maintenance services nationwide. QMG's range of services covers all areas of technical installation. The Group has 34 companies in Finland and twenty-seven locations. In 2020, the Group's net sales were approximately EUR 200 million. The Group employs more than 1,000 technical installation and maintenance professionals. More information at

About Adelis Equity Partners

Adelis is a growth partner for well-positioned, Nordic companies. Adelis partners with management and/or owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, making 25 platform investments and more than 100 add-on acquisitions. . Adelis today manages approximately 2 billion in capital. For more information please visit


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