Empower Group arranged its financial structure

tor 19 apr 2018 08:39:00

Empower, a multinational company building a smarter society, issued preferred shares on Friday April 13, and directed them to current financiers Armada Funds, Elo Mutual Pension Insurance Company and Fennia Mutual Insurance Company for them to become owners of Empower. The purpose of the new financing arrangement is to strengthen Empower's financial base and to support the Group's internationalization and growth.

Empower develops digital platforms and solutions, utilizing its’ strong experience and expertise in the maintenance of power plants and factories, the construction and maintenance of intelligent power grids and telecom networks. Empower’s EnermCIS customer information system is the market leader in Finland and Empower is also the leading producer of renewable energy services in the Finnish market. The first digital product Empower plans to launch for Swedish markets will be the Enerim platform designed to operate all energy market actors’ core processes. Empower also has the means to grow on the Swedish market as a producer of renewable energy solutions. In addition to the Nordic countries, Empower is also interested in Central Europe.

– Empower's development in recent years has been very strong and we are now focusing on the development of digital platforms and solutions business. Our Group's new arrangement of financing structure strengthens our internationalization operations and gives us good opportunities to continue strong growth in new market areas says Jari Onniselkä, CEO of Empower Group.

– I am very pleased that we got the finance company Armada, as well as two domestic institutional investors Elo and Fennia to join Empower as owners. The outlook for Empower's business operations is excellent, and new investors make it faster to implement them, commented the representative of main shareholder of Empower Group AAC Capital Partners’ Johan Bjurström.

Empower Group's net sales in 2017 were EUR 245,3 million and EBITDA EUR 16,4 million.