Carner advises Habeo Group and Triton in building leading Finnish building technology group

In Short

Carner advised Triton Smaller Mid-Cap Fund II in acquiring eight Finnish building technology companies in 2022. Using the acquisitions as a platform, Triton formed a new building technology group in Finland – Habeo Group, which operates nationwide and has a combined revenue of approximately 130 million euros. With a workforce of around 600 building technology professionals, the group provides a range of services including heating, water and sewage, ventilation and air conditioning, electrical work, refrigeration & cooling, fire safety, and building automation.

The Whole Story

The companies acquired have all been successful and locally well-established Finnish building technology companies. With the current setup, Habeo Group is the fifth largest building technology service company in Finland. The group will continue to acquire companies that suit its offering and strategy in Finland.

Habeo Group currently comprises the following eight companies:

ESP Group – Full-service building technology service group specializing in HEVAC projects and services in Central and Southern Finland.
Neloset Yhtiöt Oy – Full-service building technology service and construction company that provides HVAC, construction, electrical and building automation services especially in the capital region.
Respect Project – Delivers renovation and HVAC services throughout the Uusimaa region.
HSK Sähkö Oy – Diversified full service electrical contractor with nationwide operations.
Sähkö Oy Turku and Helsinki – A group of companies that delivers a variety of electrical work services from planning to installation mainly in the Turku and Helsinki regions.
Afire Oy – A leading provider of fire extinguishing solutions for residential and commercial uses operating in whole Finland.
SFT Finntekniikka Oy and Vaasan Kylmäkone Oy – Refrigeration and cooling experts offering high-quality, comprehensive refrigeration systems and services especially in Western Finland.

Founded in 1997, private equity investor Triton has managed ten funds with core sectors including industrial technology, business services, consumer services and healthcare. The combined revenue of all Triton’s current portfolio companies is approximately 18 billion euros with around 105,000 employees. Triton Smaller Mid-Cap Fund II applies Triton’s successful investment strategy to mid-sized companies operating in its core sectors. Triton provides the management teams with its expertise and resources and helps them to expand the companies’ market positions and to execute their growth strategy in a sustainable way.

Carner Corporate Finance has acted as the sole financial and M&A advisor for Triton in building the current Habeo platform and continues to advise Habeo Group in the group’s further acquisitions.