Intera’s portfolio company Consti Yhtiöt Oy acquired Raitayhtiöt and Espoon LVI-Sisustus Oy
Building renovation companies Raitayhtiöt, Consti Talotekniikka (formerly Koja Tekniikka), Mansen Putki and Espoon LVI-Sisustus combine forces. Consti Yhtiöt (formerly Domendo Holding) becomes one of the leading comprehensive building renovation companies in Finland with a total turnover of €67 million. Consti Yhtiöt is owned by the Finnish private equity firm Intera, management of the combined companies and Erkki Norvio.
The building renovation market is expected to grow steadily in Finland. The main drivers of building renovation growth are the age structure of the Finnish building stock as well as new requirements for environment and energy efficiency. Finnish government is also committed to supporting building renovation activity.
“Consti has strong future prospects and the building renovation market is less sensitive to economic cycles than the new building market,” says Consti’s Chairman Erkki Norvio.
Consti Talotekniikka (formerly Koja Tekniikka), Mansen Putki and Espoon LVI-Sisustus are specialised in building systems renovation while Raitayhtiöt is focused on facade renovations. The main customers of Consti Yhtiöt are commercial property owners, private housing cooperatives and construction companies. Consti Yhtiöt has approximately 300 employees with premises in Helsinki, Espoo, Vantaa and Tampere. The companies will continue to operate as separate entities from their existing premises. Combined turnover of the companies amounted to approximately €67 million in 2008.
The owners of Raitayhtiöt and Espoon LVI-Sisustus will continue as shareholders and managers in Consti Yhtiöt. Focusing and investing in growth will create interesting new opportunities for the employees in the future.