In Short
Saari Partners invests in Geniem, becoming the majority shareholder of the Company. The transaction supports and strengthens Geniem’s strategy to further grow its offering of digital services to the public sector and SMEs.
Carner Corporate Finance advises Geniem in sale to Saari Partners
The Whole Story
Geniem Oy is a Finland based digital service provider with a service portfolio including WordPress websites, mobile applications, software development, WooCommerce online stores, service design and accessibility. Established in 2001, the Company has a vast experience of executing projects for companies, cities, educational institutions and other organizations. In 2021, Geniem achieved a revenue of 5 million euros, and employed 64 persons at the time of the transaction. Following the transaction, Geniem will continue as an independent operator, and Ville Särmälä will start as the Company’s CEO in April 2022.
Saari Partners, established in 2018, is a Finnish fund manager for the Saari I private equity fund with capital commitments of 42 million euros. Saari Partners focuses on Finnish small and mid-sized service companies with entrepreneurial drive and the potential to achieve competitive advantage and added value through the means of digitalization, branding and consolidation.
“Geniem’s culture and work community combined with Finland’s leading WordPress expertise convinced Saari Partners, and we are willing to further strengthen and develop this. Furthermore, we found Geniem’s knowledge of mobile applications impressive and definitely see growth potential in this sector as well”, says Mia Sirkiä from Saari Partners.
“At Geniem, we have been trying to find ways to serve our customers even better and to offer them digital services at an even broader spectrum. We believe that through this transaction it is possible to further grow our service offering to cover the needs of our public and private sector customers. Saari Partners’ ownership responds to this need in a fantastic way, bringing along opportunities to invest in providing new, value-creating services to our customers. Our growth enables even more challenging and interesting projects for our employees”, comments Tuomas Kumpula, CEO of Geniem.
Carner Corporate Finance advised the owners of Geniem throughout the sale process.
Quotes from Saari Partners’ press release (in Finnish)