Partnera to acquire majority stake in KPA Unicon Group
Finland-headed biomass combustion technology specialists KPA Unicon Group has announced that it has reached an agreement with compatriot business group Partnera Oyj for it to acquire a majority share in the KPA Unicon Group. The acquisition will make Oulu-based Partnera the majority shareholder (70 percent) of KPA Unicon Group while the Kovanen family’s company Prounicon Oy will continue as the Group’s minority shareholder (30 percent).
The agreement also means that the investment firm Canelco Capital Oy, and the funds managed by it, that owned 37 percent of KPA Unicon’s shares, and the funds managed by it are disposing of their holdings in connection with the acquisition. Partnera will be a long-term majority owner for KPA Unicon.
It has been a great honour to be involved in the systematic implementation of the long-term growth strategy jointly drawn up for KPA Unicon in 2010. This work has also been very much in line with my own values. I have a firm belief that the company’s new ownership structure will propel it to further growth. The company has always had a strong vision of the transitions in the energy industry and a great capacity for renewal, said Pekka Hietala, Partner at Canelco Capital.
As a financially solid owner, it will help KPA Unicon implement its international growth strategy and develop new clean-energy solutions.
Partnera’s strategic goal is to use its capital to develop businesses that can promote a positive impact on society and the goals of sustainable development. KPA Unicon is a fantastic complement to our business group since its products and services are good for both environment and society, said Jari Pirkola, CEO of Partnera.
After the acquisition, KPA Unicon will remain an independent company in the Partnera Group, and there will be no overlap between the operations or organizations of Partnera and KPA Unicon.
I couldn’t be happier that our new principal owner, Partnera, is a solid listed company that will support us in implementing our international growth strategy. Our growth is supported by the global energy system’s transition to decentralized, low-emission energy production and the universal need to promote a circular economy. With our new owner, we can focus even more on providing added value to our customers by developing solutions based on clean energy production and reducing the use of fossil fuels, said Jukka-Pekka Kovanen, CEO of KPA Unicon Group.
With its new owner, KPA Unicon can focus even more on providing added value to its customers by developing solutions based on clean energy production and reducing the use of fossil fuels.
This is a new and significant step for KPA Unicon as a rapidly developing clean-energy operator on the national and international markets. For our family business, Prounicon Oy, it means that we are no longer the principal owner of KPA Unicon Group Oy. However, we will retain a major stake in KPA Unicon Group Oy with our 30 percent shareholding. The ownership of Prounicon Oy will stay entirely in our family, which originally founded KPA Unicon, said Pekka Kovanen of Prounicon.