Delete Group Oy, a leading environmental services provider for the industrial, construction and real estate sectors in Finland, Sweden and the Baltics, has been acquired by Nordic private equity investor Axcel and Delete’s management. In connection with the transaction Intera divests the holding in Delete. The transaction was completed on 30 August 2013.
Intera, together with the entrepreneurs, founded the company in 2010 through a merger of two leading environmental services companies, Toivonen Yhtiöt and Tehoc. The company has grown significantly both organically and through acquisitions and has reached annual revenue of around EUR 100 million.
“During Intera’s ownership, Delete was developed into a leading environmental services provider in Finland and northern Sweden. Investment has been successful and we reached our growth targets ahead of the plan, and it is a convenient phase for Intera to divest its holding. Delete is well-positioned to continue to grow in the Nordics under the new ownership,” states Janne Näränen of Intera Partners.
“Delete has grown rapidly over the past three years and we have expanded our product portfolio, customer base and branch network. The new owner provides additional resources to grow in the Nordics,” comments Delete’s CEO Jussi Niemelä.
Janne Näränen, Intera Partners
Tel. +358 50 566 4869
Delete specialises in environmental services for industry, construction and real estate clients in Finland, Sweden, and the Baltic states. The company’s services include industrial cleaning services, heavy and special demolition services as well as recycling and waste management services. Delete employs nearly 700 environmental services professionals and the pro forma turnover of the business in 2012 amounted to approximately EUR 100 million.
Axcel was founded in 1994 by a group of investors from Denmark’s largest financial and industrial institutions. Axcel focuses on investing in medium-sized companies in the Nordic region and has a broad base of both Danish and international investors. Axcel has raised four funds with total committed capital of around DKK 10 billion and has made 39 investments along with 50 significant bolt-on acquisitions. 25 of the companies in which it has invested have so far been sold or floated. Axcel’s investments currently include 14 companies and a significant holding in PANDORA, representing combined revenue of more than DKK 17 billion and around 11,400 employees.