Acquisition: Sitowise and Enco wish to bring property management into a new era
Sitowise Group Plc Media Release 30 June 2021 at 12:45 p.m.
Sitowise has acquired property management expert Enco Oy, a company providing consulting services related to property management and maintenance. Together, the companies want to challenge the old practices of property maintenance consulting.
– We urge to start the new era of knowledge-based property management. We are the perfect team for this task, as we combine Sitowise's digital expertise with Enco's strong data management knowhow in the real estate sector, says Sitowise's Buildings Business Area Director Timo Palonkoski.
CEO Janne Enkama, who founded Enco in 2005, emphasizes the need of developing property maintenance management and consultation.
– For long we have wanted to use data to modernize the rather old-fashioned real estate sector. We want to utilize the building management data better. We see that property management should not be about entering data manually to some system. It should rather be right decisions made together with the customer and based on data analyzed by experts. This requires more automation in data management and more strategic thinking. We should work based on data, not based on some software’s requirements.
Enco's core competencies are expert services in property management and maintenance. Company has grown profitably during recent years and has significant real estate operators as customers all over Finland. Company's references include for example Redi, the Finnish Parliament House and the Tampere Deck Arena.
– We admire the open-minded service attitude that Enco has. They identify customer's needs and want to think outside the box. At Sitowise we need reinforcement in our property management consulting services. The expertise that Enco's experts have, complements our service portfolio for the whole building life-cycle. With Enco, we can serve property owners in a variety of ways and develop a completely new kind of services, Timo Palonkoski says.
Enco Oy will continue as a subsidiary of Sitowise after the acquisition and Janne Enkama continues as the CEO. All Enco’s 10 employees continue in their roles.
– We have a great work community at Enco, and we want to give customers the best possible service. In our day-to-day work, we have seen that there are challenges in property management and maintenance, which require more customer-friendly and innovative solutions. Together with Sitowise, we will take the property management towards genuine knowledge management, says Janne Enkama.
For more information, please contact:
Business area Director Timo Palonkoski, Sitowise
+358 40 833 0265, timo.palonkoski@sitowise.com
Managing Director Janne Enkama, Enco Oy
+358 50 436 4820, janne.enkama@enco.fi
Sitowise is a Nordic expert in the built environment that offers sustainable design and consulting services. Sitowise operates in various size projects to enable more responsible and smarter urban development as well as smooth transportation. Sitowise offers its services in the following areas: Buildings, Infrastructure and Digital Solutions. Sitowise’s operations are primarily in Finland and Sweden, and it also has competence centers in Estonia and Latvia mainly serving Sitowise’s projects in Finland and Sweden. The group’s net sales was approximately EUR 160 million in 2020 and the company employs over 1,900 experts. Sitowise is listed in Helsinki Stock Exchange (SITOWS) www.sitowise.com
Enco Oy is a private company founded in 2005, whose core area of expertise is data driven property management. Our customers are the most significant operators in the real estate industry throughout Finland, and we act as a partner and consultant for our customers at different stages of the real estate’s life cycle. The company has grown profitably in recent years and employs 10 people. www.enco.fi