Power Mining acquired by Nordisk Bergteknik
3J Partners acted as financial advisor to the sellers
in an transaction that led to the acquisition of Power Mining by Nordisk Bergteknik.
“By acquiring Power Mining, we establish ourselves in Finland, which is a similar market to Sweden and a natural step in our geographical expansion and in line with our growth strategy. Power Mining is a well-established company with specialist expertise in its field. In addition, the company has high profitability and very low debt, which contributes to strengthening the Group’s cash flow and financial position over time. By acquiring Power Mining, we take a step into the Finnish market and create good conditions for further growth in Finland”, says Andreas Christoffersson, CEO of Nordisk Bergteknik.
“We are grateful to 3J Partners for the successful acquisition process and smooth cooperation. For Power Mining, the merger with Nordisk Bergteknik represents a significant leap forward in our industry. We believe that our company is a natural fit with Nordisk Bergteknik”, comments Kimmo Tolonen, CEO of Power Mining Oy.
Power Mining Oy
Power Mining is a Kajaani-based company with a decade of experience in rock construction in Finland and Sweden. Power Mining’s service offering includes tunnel excavation, reinforcement, carving and loading, for which they own a comprehensive range of heavy equipment suitable for the job. Power Mining Group’s net sales for the financial year ending at the end of September 2022 were approximately EUR 15 million.
Nordisk Bergteknik
Nordisk Bergteknik is Northern Europe’s largest group offering stone processing, infrastructure and foundation solutions, listed on the Swedish stock exchange. Nordisk Bergteknik already owns 24 companies with strong positions in the Swedish and Norwegian markets. The company has expanded strongly, supported by both organic growth and acquisitions. The company’s revenue in 2022 was over EUR 300 million
Read more:
Nordisk Bergteknik press release: “Nordisk Bergteknik intends to acquire Power Mining and establish itself in Finland”
