Finnish infrastructure and building design companies Sito and Wise Group to combine
Sito Oy and Wise Group Finland Oy are combining to form an expert organisation with nearly 1,100 employees. The new combined entity will be the largest Finnish-owned company in house building and infrastructure construction design and consultancy. The company is looking to add more than 100 new talents annually to its staff.
Building industry consultancy, design and construction contracting service provider Wise Group Finland Oy and infrastructure, traffic solutions, land use, environment and digital services multitalent Sito Oy are combining. Together the companies, which operate in the other Nordic countries and the Baltic countries in addition to Finland, will now be able to meet all the design and consultancy needs of their clients.
“Combining with Wise Group gives us enormous development and expansion potential and allows us to serve clients of all sizes throughout the field of infrastructure and building design. We will be able not only to expand our service offering but also to make greater investments in the development of our operations and to diversify our project portfolio. The focus points of our future collaboration will include digital service development, explains Tapio Puurunen, Managing Director of Sito.
“The combination of Wise Group and Sito is a logical next step for both companies. We are equally strong and complement each other well; we share many clients but have very few overlapping businesses. The way we operate is to a large extent similar, and we feel strongly about maintaining an agile operating model and down-to-earth attitude. Both companies employ an amazing group of top experts in their fields. We are looking to expand this group significantly in the near future,” says Aki Puska, CEO of Wise Group.
The combined company will be largely owned by its employees. Intera Partners, a Finnish private equity firm and current part owner of Wise Group, will continue to support the company’s growth path. The net sales of the combined company will exceed 100 million euros in 2017.
“We believe that the combined company can develop the entire industry to the benefit of its clients. The owners share a goal to introduce a Finnish contender on the Nordic market,” says Tomi Terho, partner at Intera Partners.
The companies will continue as separate companies during the integration process throughout 2017. The name and brand of the combined company will be announced later this year. The combination is subject to the approval of the Finnish Competition and Consumer Authority.
Susan Sundell, tel. +358 (0)20 747 6130, email@example.com
Contact and interview requests to Tapio Puurunen, Managing Director of Sito
Sanna Nyström, tel. +358 (0)40 584 1126, firstname.lastname@example.org
Contact and interview requests to Aki Puska, CEO of Wise Group
Wise Group is a Finnish house construction expert providing consultancy, design and construction contracting services for construction and renovation projects. Having grown extensively both organically and through mergers, Wise Group is now one of the top five expert service providers in the Finnish building sector. Wise Group employs more than 520 experts in structure and building services engineering, construction and acoustics in 15 localities around Finland.
Sito is a multitalented company in the field of infrastructure, traffic solutions, land use, environment and digital services. The company employs more than 550 experts at ten different locations around Finland. During its 40-year history, Sito has grown from a traditional engineering office into a multitalented service company that offers its customers comprehensive design and expert services and digital solutions through the full infrastructure life cycle.
Intera is a Finnish growth-oriented private equity firm. Intera seeks to invest in Finnish and Swedish companies with sales of €10 to 200 million at the time of the investment. Typical investment situations for Intera are acceleration of organic growth and internationalization of target companies, industry consolidation and generation shifts in family-owned companies. Intera was founded in 2007 and is owned by its key personnel. The investors of the funds managed by Intera are leading Nordic and European institutional investors.