Cooling and heating technology specialist Refitem Finland Oy and heating network specialist Putkiteho Oy are, with the support of Korona Invest, forming a new player in the energy and building services market.
Refitem Finland Oy and Putkiteho Oy have agreed on an ownership arrangement with the Finnish private equity firm Korona Invest, through which a fund managed by Korona Invest will acquire a majority stake in both companies, forming a new group in the energy and building services sector. The key personnel of the acquired companies will continue in their executive roles and remain significant owners. As a result of the transaction, the new group will be able to serve its customers even more comprehensively across cooling and heating technology and related services.
“Bringing Refitem and Putkiteho under the same umbrella, together with Korona Invest joining as an investor, enables the next phase of growth. The companies’ operations and core expertise complement each other and create added value for our customers,” says the Group CEO and founder of Refitem, Eero Timonen.
Korona Invest, a Finnish private equity investor focused on funding and developing growth-driven small and medium-sized companies, becomes the majority owner of the new group. With strong expertise in supporting entrepreneur-led businesses across service sectors, Korona Invest will help the companies accelerate into their next growth
stage and execute their growth strategy with long-term sector experience and a solution-oriented approach.
“Both companies’ deep specialist expertise and the founders’ strong growth ambition provide an excellent foundation for building a leading entrepreneur-driven energy and building services company. We want to bring our experience and an ownership approach focused on driving profitable growth to support the key personnel in scaling the business,” says Korona Invest’s CEO, Juho Mäkiaho.
Additional information:
Eero Timonen
CEO, Refitem Finland Oy
+358 40 067 3525
eero.timonen@refitem.fi
Riku Dahlström
Business Director, Putkiteho Oy
+358 40 088 5199
riku.dahlstrom@putkiteho.fi
Juho Mäkiaho
CEO, Korona Invest
+358 40 962 7662
juho.makiaho@koronainvest.fi
Refitem Finland Oy is a cooling and heating technology company established in 2012,
serving as a specialist in project, modernization, and service work within the sector.
Putkiteho Oy is a company established in 2023 specializing in district heating and
heating network work, and it also carries out other small-scale HVAC contracting.
Korona Invest is a Finnish private equity investor established in 2006, focusing on
developing small and medium-sized companies with the ambition and capacity to grow.
Korona Invest manages two active funds with a total commitment of 142 million euros.
Korona Invest has completed 40 initial investments and 30 exits. During the ownership
periods, 160 add-on acquisitions have been completed across the portfolio companies.
