Momentum Group acquires Finnish Heinolan Hydrauliikkapalvelu – strengthens its position in hydraulics
Momentum Group has today, through its subsidiary Hydjan Oy, signed an agreement to acquire 100 percent of the shares in Heinolan Hydrauliikkapalvelu Oy, a specialist in hydraulic services and component sales for industrial customers in Finland. Heinolan Hydrauliikkapalvelu will become a subsidiary of Hydjan, which is part of the Specialist business unit within the business area Industry.
“Together, Heinolan Hydrauliikkapalvelu and Hydjan will be able to offer local industrial customers a broader range of services in hydraulics. The companies complement each other well, both geographically and in terms of their product offering,” says Tuomas Mäkinen, Country Manager for Finland at Momentum Group.
“Both Heinolan Hydrauliikkapalvelu and Hydjan was founded in the early 1990’s and have established strong local positions in hydraulic services and component sales. Heinolan Hydrauliikkapalvelu, based in Heinola and Hydjan, based in Helsinki, will jointly be able to service a larger part of the Finnish market,” says Markku Kuosmanen, MD of Hydjan, who will also take on the role of MD of Heinolan Hydrauliikkapalvelu following the transaction.
Since its foundation in 1992, Heinolan Hydrauliikkapalvelu has provided hydraulic services primarily to customers in the steel, pulp and paper, power and mining industries. Its product offering includes motors, pumps, pipes, fittings, flanges, valves and hoses. The operations are conducted from Heinola with annual sales of approximately EUR 0.6 million and five employees.
“Together with Hydjan we will continue to build a strong local partner in hydraulics for our customers. I’m very pleased that we now can strengthen our local market position through collaboration. For me personally, I feel confident handing over the ownership and the MD role to Markku Kuosmanen, whom I have known for a long time,” says Henrik Haapsaari, current MD and owner of Heinolan Hydrauliikkapalvelu.
The closing will take place immediately and the acquisition is expected to have a marginal positive impact on Momentum Group's earnings per share during the current financial year.
