Fortaco sells its marine and energy business in Kalajoki and Sepänkylä in Finland
Fortaco Group Holdco Plc PRESS RELEASE 22 July 2024 at 15.00 EEST
Fortaco Group Holdco Plc’s subsidiary, Fortaco Oy (“Fortaco”) has signed an agreement to sell its marine and energy business in Kalajoki and Sepänkylä in Finland to Componenta, an international technology company and a Finnish contract manufacturer of metal components. The purchase price is some EUR 2.8 million. The transaction is part of the strategic evaluation of Fortaco’s marine, energy, and heavy project businesses announced on 28 February 2024.
Fortaco’s Business Site Kalajoki & Sepänkylä manufacturers steel fabricated components for marine and energy industries. The original company was founded in 1974 by Rauma-Repola to manufacture components for ship building and marine industry. The business was acquired by Fortaco in 2012. In 2023, the net sales of Business Site Kalajoki & Sepänkylä were some EUR 9.6 million and EBITDA some EUR -1.6 million. In January–June 2024, the net sales of Business Site were some EUR 7.0 million and EBITDA some EUR 25 thousand. The Business Site employs in total some 60 people. All personnel will be transferred to Componenta with their existing terms and conditions. More information about the financial performance of Business Site Kalajoki & Sepänkylä can be found in Componenta’s stock exchange release about the transaction.
“The selling of our operations in Kalajoki and Sepänkylä is a next step in the strategic evaluation of our marine, energy, and heavy project businesses. The new owner, Componenta, has over 200 years of expertise in metal industry. I’m confident they are a good new home for our people in Kalajoki and Sepänkylä. I want to thank our customers for their trust and cooperation throughout these years, and the Kalajoki & Sepänkylä teams for their excellent performance. I wish the team a successful and continuous journey to Make Tomorrow Safer and Better,” says Lars Hellberg, President & CEO of Fortaco.
"We are very pleased to have the comprehensive know-how of Kalajoki and Sepänkylä as well as the technology that nicely expands our current production portfolio as a part of Componenta. The acquired entity perfectly complements Componenta's total offering also as a contract manufacturer of heavier production. As a result of the transaction, Componenta will clearly strengthen its position in the direction of its strategic customers in the selected industries. With this business acquisition, the expansion of our service offering will enable, for its part, a significant increase in cross-selling and an even better and more comprehensive service capability for our strategic customers”, says Sami Sivuranta, CEO of Componenta.
“Fortaco Business Site Kalajoki & Sepänkylä is well-known for its high quality, delivery accuracy, and uncompromising professionalism. Our modern welding factory in Kalajoki has a lot of potential for volume increase. I am very satisfied that Componenta will become our new owner. The know-how and excellent location of Componenta’s machining workshops enable the expansion of our business to other sectors as well. This transaction seems to me a win-win solution for both companies,” says Jyri Paavola, General Manager of Business Site Kalajoki & Sepänkylä.
The transaction is subject to some customary closing conditions, and companies aim to close it on 1 October 2024.
The strategic evaluation concerning Fortaco’s marine and energy business in Serbia is still ongoing. Fortaco expects to complete the evaluation during 2024.
Further Information
Lars Hellberg, President & CEO
+358 40 572 9488
lars.hellberg@fortacogroup.com
Fortaco Group
Fortaco is the leading strategic partner in Europe to the heavy off-highway equipment and marine industries, providing premium offerings, like technology & zero emission solutions, vehicle cabins, steel fabrications, and assemblies. Fortaco Group has operations in multiple European and Asian business sites and technology hubs, which support our global customers. www.fortacogroup.com.
Componenta
Componenta Corporation is an international technology company and Finland’s leading contract manufacturer in the machine building industry. Sustainability and customer needs are at the core of the company’s broad technology portfolio. Componenta Corporation manufactures components for its customers, which are global manufacturers of machinery and equipment. The company’s stock is listed on Nasdaq Helsinki. www.componenta.com