Empower Group has been sold to Enersense International Oyj
Enersense International Oyj, a company specializing in implementing zero-emission energy solutions, has acquired the entire share capital of Empower Oyj, the parent company of Empower Group. The sales agreement was signed on July 2, 2020 and the transaction is estimated to be completed during July 2020. Enersense-Empower, which is now emerging, will become a major player serving Nordic and international companies in the industrial, energy and telecommunications sectors.
Mikko Vaahersalo, CEO of Empower Group comments:
“The acquisition is very significant for both companies and opens a whole new kind of opportunity to develop business together in the future. The companies operate partly in the same customer bases; however, they will be able to provide customized services to their various customer groups. With the acquisition of Empower, Enersense will receive a lot of new type of contract-based revenue, while Empower will gain strong expertise from Enersense in managing and acquiring resources.
Empower’s business has turned positive again. The Group’s burden has long been an excessive debt. In connection with the transaction, the old debts will be settled and in the future the business will have a stable and sustainable foundation. At the same time, we get a fresh start together and get to create a whole new type of company for the industry. Empower’s customer satisfaction and contract base are at a good level, so the deal is expected to further strengthen those significantly.”
"For the Empower Group, Enersense is an excellent new owner. The business synergies are extensive and the buyer, through its renowned and experienced owners, will provide the new company with strong financial conditions for growth. The work, which began in December 2019 with the company's Board of Directors, Group Executive Team and the main investors, will be completed now and I'm very happy with it," says Rainer Häggblom, Chairman of the Board of Empower Group.
Jussi Holopainen, CEO of Enersense says:
“Enersense is a company of significant growth. We have succeeded in achieving a strong position in Finnish industry and have also expanded our operations internationally. Our goal is to expand our operations to the Baltic countries, and now with the acquisition, our geographical footprint will be increasingly visible in the Baltics as well. The cornerstone of our growth is to grow through acquisitions, and we have succeeded in implementing our strategy very well.”
Additional information: Mikko Vaahersalo, CEO of Empower Group, tel. +358 44 425 3143