Vaaka Partners exits Renewa

The deal sees KPA Unicon, a Finnish provider of efficient energy production technology, acquire the full share capital of Renewa from KPA with a view to merge the two companies.

Vaaka – known as Pohjola Capital Partners at the time of the original acquisition – will exit its 70% shareholding entirely in the transaction, bringing to an end eight years of ownership that began with the merger of Termopoint and Putkimaa in 2008. KPA Unicon will also acquire the 30% stake held by Renewa management as part of the deal.

Completion of the deal is expected by the end of September 2016.

Previous funding
Renewa was established after the merger of Termopoint and Putkimaa in late 2008, following the acquisition of the two biomass combustion heating plant suppliers by Vaaka in November that year.

Following the merger, the GP held a 70% stake in the newly formed company with management holding the balance. The EV of both buyouts was in the €5-15m range.

Company
Headquartered in Vantaa, Renewa is a provider of technology for bio-energy, heat and power plant technology.

Its products and services include boiler plants, maintenance, and lifecycle services, which it sells in Finland, France, Sweden and the Baltic countries.

The company employs 95 people across Finland and France, generating €35m of revenue in 2015.

People
Vaaka Partners – Ilkka Pentikäinen (partner).
KPA Unicon – Jukka-Pekka Kovanen (managing director).

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• Topics
• Exits
• Nordics
• Industrials
• Finland
• Vaaka Partners Ltd (Formerly Pohjola)
• Trade sale