Habeo Group, the Finnish decentralised building installation services company backed by Triton, has acquired LVI-Pitkälä Group and Terawatt Oy on 18.9.2024 and 19.9.2024, respectively, marking the fifth and sixth acquisitions of Habeo in 2024.

LVI-Pitkälä Group is an Oulu-based HVAC service provider serving industrial, residential and commercial real estate owners, operating in most regions of Finland. The company’s founder Jari Pitkälä says, "We are excited to join Finland's best building technology community. Being part of Habeo strengthens LVI-Pitkälä's competitiveness and creates new opportunities for growth. … Habeo's values – collaboration, entrepreneurial spirit, care, and solution-oriented approach – align with our own and support our vision of being the most attractive workplace in the industry and providing the best service to our customers."

Terawatt is an electrical contractor specialised in commercial, public sector and apartment building projects, pipeline renovations as well as EV charging station and solar power solutions, operating nationwide. Terawatt’s CEO Lasse Impiö commented, "… We have heard many good things about Habeo's way of operating – the Group helps companies grow and develop while preserving their independence and culture. Habeo's relaxed and collective approach convinced us, and we see this as part of a success story that we absolutely wanted to be a part of."

The combined sales of the two acquisitions amounted to c. 43 million euros, and they generated c. 4.6 million euros in EBITDA in the latest available fiscal years. With the acquisitions, Habeo Group is now the fourth largest player in the building installation services market in Finland, generating over 200 million euros in annual revenues and employing over 1000 personnel. Carner acted as Habeo’s advisor throughout both acquisition processes and continues working closely with the management on the acquisition pipeline in order to find the best companies in the sector.

Link to Habeo Group's press release (in Finnish)