Juuri Partners invests in Hydroline

Hydroline was hitherto privately held, with the family at the helm of the business retaining a controlling stake after the transaction.

Juuri's investment is part of a larger financial arrangement worth a total of approximately €20m, the company said in a statement. Hydroline is the GP's first investment in the industrial production field, the investor said.

With Juuri's backing, Hydroline said it would invest in its existing factories as well as open new production plants and boost international expansion. In 2014, the company opened a new factory in Stargard, Poland, where 20 employees are currently based.

Hydroline is expecting a 20% increase in turnover in 2017, exceeding the €36m mark it hit last year. It aims to double it by 2020. Around 95% of sales currently consist of indirect exports.

Company
Founded in 1962, Hydroline specialises in designing, manufacturing and providing lifecycle services for hydraulic cylinders. Its clients mostly include large industrial groups such as Agco, Bronto, Skylift, Cargotec, John Deere, Normet and Sandvik.

Based in Siilinjärvi, Finland, Hydroline employs approximately 250 people and had net sales of €36m in 2016.

People
Juuri Partners – Anita Ojala (partner).
Hydroline – Mikko Laakkonen (CEO).

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• Topics
• Expansion
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• Finland
• Nordic venture