Nordic engineering and consultancy majors ÅF and Pöyry complete merger
The two Nordic engineering and consultancy majors, Sweden-headed ÅF AB (ÅF) and Finland-headed Pöyry PLC (Pöyry) have completed the merger of the two companies and commenced the integration of the companies as ÅF Pöyry. A new group structure for the combined company has been established and the new Group Management for the combined company has been appointed. ÅF Pöyry is also preparing to launch a united brand and a joint client offering during 2019.
In December 2018, ÅF and Pöyry signed an agreement to merge the two companies to form a leading European engineering and consulting company. ÅF submitted a recommended cash public takeover bid to acquire all issued and outstanding shares in Pöyry while four major shareholders in Pöyry undertook, in a directed new share issue, to become shareholders in the merged company after the completion of the acquisition offer.
The deal received the necessary approval from respective shareholders and relevant competition authorities and was completed on February 21, 2019. A new group structure for the combined company has been established and the new Group Management for the combined company has been appointed.
The merged company has around 14 500 staff all over the world and an estimated combined turnover of SEK 19 billion (≈ EUR 1.79 billion). It will conduct business under the ÅF Pöyry brand and operate in five new divisions: Infrastructure, Industrial & Digital Solutions, Process Industries, Energy and Management Consulting. ÅF Pöyry is preparing to launch a united brand and a joint client offering during 2019.