Auroora Yhtiöt expands its Industrial Products and Services segment by acquiring Telatek Service

Auroora Yhtiöt Oyj (“Auroora”) has acquired the entire share capital of Telatek Service Oy (“Telatek”). Telatek is a company focused on demanding special maintenance, which operates in five locations in Finland.

Telatek Service specializes in mechanical maintenance for customers in power plant, mining, metal, oil refining, forestry and marine industries. An essential part of Telatek’s strategy is to extend the life cycle of customers’ large and heavy machines. In addition to Finland, the company also serves its customers abroad. Telatek is a pioneer in thermal spraying, on-site machining and special welding in Finland. The maintenance solutions offered by the company are based extensively on own service and product development and over 45 years of experience.

The turnover of Telatek Service has grown steadily in recent years and the company’s profitability is good. The company’s turnover in 2023 was 16 million euros and the company employs around 120 people.

“The acquisition strengthens Auroora’s Industrial Products and Services segment and strengthens our position as a strategic partner for industrial maintenance customers in Finland. Telatek also opens up the possibility of international growth for us”, says Petri Antila, Business Director of Auroora Yhtiöt.

After the completion of the transaction, Telatek Service’s current CFO Kari Koivula will become Telatek Service’s CEO. “Auroora already has a good understanding of industrial maintenance in HTT High Tech Technology. I look forward to accelerating Telatek’s growth with Auroora’s support together with our competent and committed staff,” says future CEO Kari Koivula.

The acquisition is subject to the approval of the competition authorities and is expected to be completed in the second quarter of 2024.

For more information:

Petri Antila, Business Director – Auroora Yhtiöt Oyj, 040 7150 459
Harri Tolppanen, Chairman of the Board – Telatek Service Oy, 0400 635 045

Auroora Yhtiöt

Auroora Yhtiöt Oyj is a Finnish serial acquirer that creates shareholder value by investing the cash flow generated by its subsidiaries in new, good cash flow-generating SMEs in selected segments. Auroora is a long-term owner who owns its subsidiaries permanently and offers its companies a platform for growth. The company’s turnover in 2023 was 131 million euros, and it includes more than 20 SMEs that employ around 800 people. The companies operate according to the serial acquirer model independently with their own name, brand and strategy as part of the Finnish community built by entrepreneurs. www

Telatek Service

Telatek Service Oy is a company specializing in mechanical maintenance, which operates in five locations in Finland. The company’s business idea is to extend the life cycle of customers’ large machines.