Prevas has signed an agreement to acquire approximately 92 percent of the shares in the Finnish company NMAC Group Oy, the parent company of Enmac Oy (“Enmac”). Enmac has a strong position in the Finnish market within growth areas such as energy, industrial automation, and process industry, with approximately 200 employees and a turnover of EUR 23 million in 2023. Through the acquisition, which is Prevas’ first in Finland, a Nordic group is established, with operations across Sweden, Norway, Denmark and Finland. The acquisition is subject to regulatory approval, which may take up to four months.
”Enmac has grown as a strong Finnish partner for its customers within industrial design and expert services and system deliveries over our ownership period. Enmac revenue has over tripled and service offering strengthened. Management team together with entire staff has done excellent job and we are delighted that we have found Prevas as a partner for Enmac going forward”, says Juho Mäkiaho, Investment Director at Korona Invest.
Enmac was founded in 1983 and operates across 8 locations in Finland. The company offers advanced services in production process development and has an especially strong capability in managing turnkey solutions for leading industrial companies. Enmac has cutting-edge expertise in several areas such as advanced technical calculations, industrial automation, product development, as well as process and piping design. Enmac’s largest customers include Valmet, Andritz, Kemira, Metsä Group and Fortum.
“Finland and Sweden have strong standings within industry and technology,” says Magnus Welén, CEO of Prevas. “Enmac is an excellent complement to Prevas’ operations, and we see significant mutual market synergies in jointly offering premium services throughout the Nordic region. We look forward to welcoming both the company and all its employees into the Prevas family.”
Enmac has extensive experience of identifying and executing on successful acquisitions, and Prevas’ ambition is that the new Finnish platform will continue to drive both organic as well as acquired growth in the Finnish market.
“The combination with Prevas is perfect for Enmac and opens up for accelerated growth as well as a broader Nordic presence,” says Juha Ritala, CEO of Enmac. “Prevas will strengthen Enmac’s offering in areas such as industrial IT, embedded systems and Internet of Things. It will also provide exciting new development opportunities for our employees.”
Enmac’s management team retains ownership in NMAC Group Oy and will continue to develop the company under the leadership of CEO Juha Ritala.
Additional information:
Enmac Oy
Juha Ritala, CEO
juha.ritala@enmac.fi
tel. +358 45 657 9213
Korona Invest Oy
Juho Mäkiaho
Partner, Investment Director
juho.makiaho@koronainvest.fi
tel. +358 40 962 7662
Enmac Oy offers expert solutions focusing on technical engineering and product development. The company serves its clients by creating innovative solutions incorporating mechanical assemblies, automation, hydraulics, and pneumatics. We offer services related to design, consulting and project management, and product development that are not tied to a specific branch of industry. Our company was founded in 1983, and we have offices in Tampere, Kotka, Pori, Rauma, Oulu, Raahe, Vaasa and Kemi. We employ 200 engineering and product development experts and have an annual turnover of 23 million euros.
Korona Invest is a Finnish private equity firm specialized in investments to domestic small- and mid-sized businesses. We are active partner for our portfolio companies targeting for sustainable growth.
