Swedish group acquires leading Finnish supplier of technical consulting services
02/02/2006
A track record of success in major energy projects
On 30th January 2006, the ÅF Group, a technical consulting concern based in Sweden, announced that it has agreed to acquire 100 percent of the outstanding shares in Enprima Ltd, a leading supplier of technical consulting services to the energy sector based in the City of Vantaa. According to a statement, the acquisition strengthens the ÅF Group’s international position within the energy consulting industry.
According to ÅF, the main focus of Enprima’s business activities is technical consulting, project management and the design of power stations and heating plants, and the company has in recent years undergone a transformation from a power plant contractor (EPC) to a pure consulting and engineering concern. ÅF also said that Enprima has a track record of success in major energy projects both in Europe and in new growth markets, and that more than half the company’s sales relate to projects located outside Finland.
“We have the greatest respect for the skills that Enprima possesses”
Commenting on the acquisition, Jonas Wiström, ÅF’s President, said “The acquisition of Enprima marks another step in ÅF’s ongoing expansion in the strategically-important energy area. At the same time, Enprima's well-established presence in Finland, the Baltic states and Eastern Europe is also attractive to us. ÅF is firmly committed to following up the investments Enprima has already made in growth markets such as Russia and southeast Asia. We have the greatest respect for the skills that Enprima possesses. They will be a valuable complement to our own expertise in the energy industry. The company's order books are also strong.”
Eero Auranne, Enprima’s President and CEO, said “In my view, the acquisition by ÅF is a positive step. The company will have a strong owner who is committed to the consulting and engineering business and will bring in significant synergies. Enprima will benefit from ÅF’s status as a long-established supplier of technical consulting services both to energy sector clients and to the pulp and paper industry.”
Enprima Ltd was established in the autumn of 2002 when Fortum and Pohjolan Voima (PVO) divested their engineering subsidiaries Fortum Engineering and Empower Engineering. The company employs approximately 270 people, 200 of whom work in Finland, and has offices in Finland, the Baltic states and Russia. According to ÅF, sales by the Enprima Group in 2005 are expected to be in the region of EUR 38.3 million and the company has an order book totalling approximately EUR 60 million.
Further information:
http://www.afconsult.com/templates/page.asp?id=34754&work=&print=1
http://www.enprima.com/content/info/
