
Vaaka Partners acquires majority stake in Staria
Finnish private equity house Vaaka Partners has acquired a majority stake in Finland-based accounting service Staria.
Terms of the deal were not disclosed.
Vaaka Partners' most recent fund is Vaaka Partners Buyout Fund III, which held a final close on its hard-cap of €225m in March 2017. The vehicle targets Finnish SMEs with a focus on funding international growth.
Following the deal, founder and CEO Juha Tommila and board chairman Miko Saari will continue in their roles and remain as significant shareholders. The company will also appoint new board members Markus Huttunen and Mika Sutinen.
Tommila said in a statement that most of the company's future growth would be achieved outside of Finland.
Staria's turnover has grown from €8m in 2015 to €18.3m in 2019, 40% of which was achieved organically, the company said in a statement.
Company
Founded in 2003 and headquartered in Helsinki, Staria's services include local and international information systems, financial, HR and payroll services, and other specialist services like robotic process automation. It has customers in 35 countries, and counts Finnish growth companies Wolt, Supercell Relex and NoHo among its clients. The company generated revenues of €18m in 2019 and had an EBITDA of €1.9m. It employs 200 people.
People
Staria – Juha Tommila (CEO).
Vaaka Partners – Ville Koskenvuo (partner).
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