Preato Capital acquires Machinery Oy
Preato Capital has acquired Machinery Oy, one of leading players in technology trading and related services in Finland, from the Timonen family.
Machinery is a technology trading group organised in four main business areas, Power Systems Solutions, Construction Machines, Mechanical Engineering Industry and Aviation & Defence. The company has a strong market position with an offering that comprises leading high-tech products within industrial engines, generators, construction machines as well as tools and machines for the process industry. Furthermore, Machinery offers maintenance and service of its installed solutions.
Machinery was founded in 1911 and has been owned by the Timonen family since the 1950s. Today, the company has nationwide operations with around 70 employees and offices in Vantaa outside Helsinki as well as in Tampere, Turku and Joensuu. Sales for 2016 amounted to approximately EUR 31 million with good profitability.
In connection with the acquisition, Richard Bergström has been appointed new Group CEO of Machinery. Richard has a vast leadership experience from industrial products and technical trade operations.
Preato Capital is a privately owned investment company that invests in small and medium sized companies in the Nordic region. Preato Capital invests across different industries with focus on established and profitable companies with a proven business model, where Preato Capital together with the management team can own and develop the operations long-term.
Machinery has a long history and an established market position. The combination of strong technical competence within its selected industrial segments, high-tech products and related services provides a competitive offering. Based on this, we see interesting opportunities to grow and further develop the business, comments Simon Hallqvist, Preato Capital.
For further information:
Simon Hallqvist, Preato Capital AB, +358-40-510 27 60
Richard Bergström, Machinery Oy, +358-40-737 31 57