Fundacon Oy’s development to continue under new ownership

Smaragdus Oy, the Finnish owner of the CTS Engtec, acquired Fundacon Oy, which specializes in project management and consulting in the energy sector, in an acquisition completed on May 29, 2020. Services offered by Fundacon will further complement the comprehensive service package offered by the Group’s companies for industrial investment projects.

In an acquisition on 29.5.2020, Smaragdus Oy purchased Fundacon Oy, which specialises in energy sector project management and consulting. Fundacon’s range of services will further supplement the comprehensive services already provided by the Group for industrial investment projects.

The growth and development of Fundacon Oy, which specialises in energy industry project management and specialist tasks, will continue under a new ownership solution. Fundacon will be owned by the Finnish Smaragdus Group, and its range of services will further supplement the comprehensive services already provided by the Group for industrial investment projects.

Founded in 1998, Fundacon Oy is a consulting company specialising in energy industry project management and specialist tasks. It employs six people. In recent years, the company has successfully participated in several Finnish energy industry investment projects. As a result of operational development, the company has consolidated its customer base and the company founders have decided to seek a new ownership solution to safeguard future growth and development.

The Smaragdus Group became the new owner of Fundacon in an acquisition that took place on 29.5.2020. The Group is owned by professional investors comprising Finnish private individuals and companies with significant expertise in business relating to investment projects. The Group is managed by investment company Helmet Capital and it owns CTS Engtec Oy, which is an industrial technical engineering and consulting company, and Fimpec Oy, which is Finland’s leading provider of construction management and project management services. Fundacon and its range of services in the energy sector will supplement the overall range of services offered by the group in comprehensive industry commissions.

From 1.6.2020, Frans Jokinen will act as Fundacon’s CEO and Antti Lukka as the Chair of the Board. The company’s previous owners, Pekka Utunen, Lars Sandberg and HeikkiKomonen will continue to work at Fundacon. The change in ownership will have no other effect on personnel and the aim is to increase the number of company employees in the future.

“The corporate acquisition creates new opportunities for us to expand our operations into industries where our sister companies CTS Engtec and Fimpec are strong, such as in the forest and process industries. In these industries, our expertise with power plants in particular benefits the entire Group and strengthens its overall project competence,” explains Lars Sandberg, member of Fundacon’s Board.

“CTS Engtec and Fimpec, which were previously bought by the Group, have created a strong foundation for industrial project management and engineering partnerships. The acquisition of Fundacon opens up a new channel for project competence growth in the energy industry. Fundacon will support the Group’s competence with energy and projects, particularly in power plant feasibility studies and procurement management. The first shared offers that utilise the competence of the entire group have already been made,” says Timo Hyvönen, Chair of the Board of the Smaragdus Group.

Fundacon Oy specialises in providing comprehensive service to end users in the energy industry in Finland and the Baltic Sea region. The company’s employees have extensive experience, particularly with the management of energy industry projects and specialist tasks.

Read these next