Sale of Nordautomation Oy to Addtech AB

Addtech AB has acquired a majority stake in Nordautomation Oy. Nordautomation is a Finland-based project supplier for the wood processing industry and a leading manufacturer of log handling systems in the Nordic countries. The Company has revenues of approximately 15 MEUR, of which more than 60% is generated outside Finland. The Company employs 85 people in total. Since Nordautomation was established in 1991 by Pauli Ojala, the Company has achieved an excellent reputation as a reliable, high-quality partner for the wood processing industry.

Nordautomation designs, manufactures and delivers systems for handling of logs and side products as well as timber infeed. Additionally, the Company offers related spare part and maintenance services. The Company’s customer base consists of Nordic and global players in the forest industry, such as UPM Kymmene, Stora Enso, Metsä Group, Keitele Group, Svenska Cellulosa and Versowood.

After the transaction, Pauli Ojala remained the CEO and a minority owner of the Company with a 20% share.

Carner advised Nordautomation throughout the sale process.

Addtech AB

Swedish technology trading group Addtech is a long-term owner whose operational model is to keep the acquired companies independent. Forest industry products and services are one of the group’s strategic focus areas. Nordautomation will complement Addtech’s current operations in the business area Industrial Process.