Vaaka Partners to acquire industrial maintenance service provider Sataservice
Vaaka Partners, a Finnish private equity firm, will acquire a majority stake in Sataservice, a company providing industrial maintenance services. The new ownership arrangement will enable Sataservice to develop its business in Finland and grow to a significant player in the Nordic Countries.
Sataservice provides full-service maintenance and has a very strong position on the Finnish market for maintenance services in the food and technology industries. Its customers include Finnish and international companies from the food and technology sectors.
The past ten years have been a time of rapid growth for Sataservice, and the company has become a key player in the Finnish maintenance sector.
“Growth stories like the growth of Sataservice are just what Finland needs at the moment. The company has potential to grow further in Finland and become a significant player in the Nordic Countries. We are excited about having the opportunity to develop Sataservice’s business operations with the company’s founders and highly competent staff,” says Reijo Grönholm, a partner at Vaaka Partners.
“Sataservice has a strong desire to develop its operations and expand abroad. The active ownership and operating methods of Vaaka Partners convinced us that the new ownership structure will help us speed up the implementation of our growth strategy and execute the strategy in cooperation with our customers,” says Tuomas Kaitila, the CEO of Sataservice.
The acquisition will make Vaaka Partners the majority owner of Sataservice. Tuomas Kaitila and Sami Yski, the founders of Sataservice, will continue to work and hold significant shares in the company.
Vaaka Partners, Reijo Grönholm, partner, +358 500 403 057, reijo.gronholm(a)vaakapartners.fi
Sataservice, Tuomas Kaitila, CEO, +358 400 509 911, tuomas.kaitila(a)sataservice.com
Sataservice Oy provides industrial maintenance services, focusing on maintenance contracts in the food and technology industries. Sataservice’s turnover in 2013 was EUR 29 million, and the company has more than 200 employees. Sataservice was founded in 2003 in Rauma, southwest Finland. www.sataservice.fi
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