Sale of SVS Supervise Service Oy to Elcoline Group
3J Partners acted as advisor to the seller and executed the transaction process from start to finish as SVS Supervise Service Oy, a company specialized in the maintenance and part manufacturing for power plants, was sold to Elcoline Group.
Industrial maintenance provider Elcoline Group is speeding up its growth by acquiring SVS Supervise Service Oy. Merger of the two companies expands the range of services provided by Elcoline to cover the manufacturing of parts for power plant boilers and lays the foundation for Elcoline’s future growth as a number one provider of industrial maintenance in Finland.
SVS specializes in the manufacturing, installation and maintenance of power plant boilers. SVS operates in the Kymenlaakso area and its biggest customers are power plants in Southern Finland and the area’s paper industry. SVS was founded in 1996 and its turnover was about € 5,5 million in 2018. SVS employs about 60 employees.
Complementary services and operational environment made the merger between Elcoline and SVS very natural. CEO and one of the founders of SVS, Markku Korpivaara says that finding a successor for The Company has lately become a current issue.
– In the beginning of the sales process, as we were negotiating the order contract with 3J Partners, I had no idea of the number of phases and the amount of work that go into selling a company. The added value from 3J Partners was obvious in every phase of the project, Korpivaara states.
Korpivaara continues “I am very happy, that from the group of several potential buyers, 3J Partners brought Elcoline to the negotiating table, and that our operations will continue with a strongly growing company like Elcoline. Our companies complement each other in a good way, and this opens new growth avenues for us. Another significant factor is the positive employer brand Elcoline has built, which translates into ease of recruiting in this challenging industry.
SVS will continue under its own brand under Elcoline Group after the transaction.