Acquisition of Terawatt Oy
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.
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.
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.
Habeo Group
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.