The Finnish serial acquirer is growing rapidly: Auroora Yhtiöt purchases an industrial services company
Serial acquirer Auroora Yhtiöt Oyj has purchased HTT High Tech Technology Oy, a
company providing industrial services. The deal is part of Auroora’s determined
growth efforts, and HTT will be incorporated into the Industrial Products and
Auroora Yhtiöt Oyj has purchased the entire share capital of HTT High Tech Technology
Oy. The agreement on the deal was signed on 20 July 2023. HTT serves both domestic
and foreign customers in the energy sector, the machine and metal sector, and the
marine sector. It specialises in the welding and installation of pressure equipment,
machine and device installations, service and maintenance work, power plant
maintenance, periodic maintenance and installation supervision.
“We have the industrial DNA”
Auroora Yhtiöt is a Finnish serial acquirer. The company’s three main segments are
Automation and Electrification, Water Treatment, and Industrial Products and Services. In
addition to this, the company is looking for growth potential in new segments that will
be specified later. HTT High Tech Technology is the first company in the Industrial
Products and Services segment, which is expected to grow substantially in the future.
“Auroora operates in the centre of Finnish industry near numerous interesting
companies, and we are actively seeking growth in this segment. We have the industrial
DNA, and our team and network has strong expertise in the development of industrial
companies. We provide a strong and solid foundation for the companies in Auroora.
Their employees also gain interesting development opportunities as part of a larger
whole,” says CEO of Auroora Yhtiöt Antti Rauhala.
Auroora Yhtiöt aims to grow by acquiring numerous SMEs that align with its strategy in
the coming years and also explore the option of getting listed. Auroora’s operating
model is new in Finland: A serial acquirer is a long-term owner that owns its subsidiaries
permanently. It provides them with the opportunity and resources to develop but does
not get involved in the operational activities. The subsidiaries continue their operations
as before, meaning that they stay independent and retain their own name, brand,
personnel and strategy.
Cooperation enables growth and development
Established in 1990, HTT has grown steadily. In 2022, its turnover was EUR 11.5 million
and it had slightly more than 90 employees. The company is headquartered in Tampere.
“We were quickly convinced of the HTT team’s strong expertise and customer-oriented
approach. The company has gained the trust of its customers and grown in a profitable
manner. We believe that Auroora Yhtiöt is the right home for HTT and together we can
achieve a lot,” Business Director Jukka Marttila of Auroora Yhtiöt describes.
“The corporate transaction and partnership with Auroora Yhtiöt is a natural step for HTT.
Auroora’s operating model is also in line with our values. The synergy benefits provided
by Auroora Yhtiöt and its extensive expertise in business development offer
considerable growth and development potential within the ever-changing customer
base, and we are grateful for this opportunity. Now we can focus on developing services
especially for our customers in the energy and marine sector,” says HTT High Tech
Technology’s CEO Janne Maksimainen.
Jukka Marttila, Business Director,
email@example.com, tel. +358 (0)40 518 8623
Antti Rauhala, Chief Financial Officer,
firstname.lastname@example.org, tel. +358 (0)40 549 0080
HTT High Tech Technology Oy
Janne Maksimainen, CEO,
tel. +358 (0)44 717 3324
Auroora Yhtiöt Oyj is a Finnish serial acquirer with a turnover of EUR 130 million. It comprises over 20 SMEs employing around 600 people. In accordance with the serial acquirer model, the group companies operate independently under their own name, brand and strategy. The community provides strong fieldspecific expertise, support and guidance for business development, financial resources for growth, if necessary, and interesting development opportunities for entrepreneurs and employees. The Auroora companies are medium-sized SMEs which are primarily fully owned by Auroora.