Vaaka Partners becomes majority owner of Eltrea

The electrical contracting group Eltrea is taking its next step in growth through two simultaneous transactions. Finnish private equity firm Vaaka Partners will become the company’s largest shareholder, and at the same time Eltrea will acquire the Helsinki based electrical contractor Sähkö-Vendelin. The arrangement will increase Eltrea’s revenue to approximately EUR 30 million and strengthen the group’s position, particularly in the Helsinki metropolitan area. The company will employ around 120 electrical contracting professionals.

Eltrea is aiming to become a forerunner in electrical building services and to accelerate the transition towards more energy efficient and sustainable construction and living.

“Construction plays a significant role in shaping the wellbeing and energy efficiency in Finland. We want to be a company that actively drives the industry forward”, says Janne Levävaara, CEO of Eltrea.

The transactions broaden expertise and support growth

Vaaka Partners’ investment will bring expertise and experience to Eltrea, supporting the company’s growth both organically and through acquisitions.

“We value the way Eltrea builds its business with a strong culture, satisfied customers and profitable growth. There is room in the market for a company that combines quality with long term development. We want to support this growth journey”, says Ville Koskenvuo from Vaaka Partners.

The acquired company Sähkö-Vendelin focuses on renovation, modification work and maintenance of commercial properties. Its current owners will also join Eltrea as shareholders.

“It was important for us to find a partner whose values and way of working align with ours. We see this as an opportunity to grow and develop our operations further,” says Anton Pehkonen, CEO of Sähkö-Vendelin.

The construction sector needs growth stories

Eltrea operates in residential construction as well as in commercial and renovation projects, where electrical solutions play a key role in the energy efficiency of buildings and their lifecycle carbon footprint.

The company is seeking growth primarily from the increasing importance of electrical building services in construction.

“Energy efficiency, smart systems and the growing technical complexity of buildings are changing the industry rapidly. We want to be at the forefront of this development and bring new practices to construction sites”, says Levävaara.

The transaction agreements have been signed. Closing is subject to approval by the Finnish Competition and Consumer Authority.

Further information:

Janne Levävaara, CEO, Eltrea Group Oy
Tel. +358 40 551 0009, janne.levavaara@eltrea.fi

Ville Koskenvuo, partner, Vaaka Partners Oy
Tel. +358 50 387 8115, ville.koskenvuo@vaakapartners.fi

Anton Pehkonen, CEO, Oy Sähkö-Vendelin Ab
Tel. +358 40 930 6996, anton.pehkonen@sahko-vendelin.fi

Eltrea Group in Brief 

Eltrea is a Finnish group founded in 2024 that provides electrical design and contracting services for buildings. The group includes Eltrea Toimitilat, Eltrea Asunnot and Eltrea Korjausrakentaminen, as well as Sähkö Vendelin following completion of the transaction. The group is headquartered in Helsinki. Combined revenue is approximately EUR 30 million and the group employs around 120 electrical contracting professionals. Eltrea invests strongly in the technological development of the construction industry. https://eltrea.fi/en/

Sähkö-Vendelin in Brief

Sähkö-Vendelin is a versatile provider of technical building services electrical systems. Its services include electrical design, electrical renovations, modifications to commercial premises, as well as maintenance and servicing work. https://sahko-vendelin.fi/