Parent company’s report has been compiled in collaboration with our subsidiaries and includes both our group’s and our subsidiaries’ sustainability figures and actions for the year 2022. Additionally, a separate sustainability report has been compiled for our real estate business, which discusses the impact of energy efficiency investments carried out in recent years on our properties’ energy consumption and carbon footprint. Both reports can be found on our website under the Sustainability section. Going forward, we will release a sustainability report annually.
The Finnish family company Onvest Oy has bought Teijo-Talot Oy, which specializes in wood construction based on movable modules, whose special expertise is modular school, daycare, nursing home and office construction. The aim of the acquisition is to grow Teijo-Talot into one of Finland’s leading companies focused on modular wood construction.
The Finnish company Teijo-Talot Oy, which specializes in portable wooden construction, has become part of the domestic Onvest group through a business acquisition on 19 December 2022.
At the same time, Onvest Oy becomes the main owner of Puurakentajat Group Oy (“Puurakentajat”), which specializes in solid wood construction, with an ownership stake of approximately 72 %. Jyrki Huttunen, the founder and main owner of Puurakentajat, and Mikke Ruuhonen, who served as the chairman of the board, are giving up their ownership.
Onvest wants to build new flagships for Finnish industry, create jobs and internationalization stories, and act as partners in the growth of the companies it owns.
Through the completed acquisitions, Onvest Group has acquired leading companies in mobile modular construction and solid wood construction. In this way, Onvest significantly increases investment of its wood construction business, and the goal is to become Finland’s leading wood construction company. The synergistic benefits of combining the expertise of wood construction and the core expertise of unique indoor modular construction are significant, e.g. to avoid moisture damage during construction.
Using a patented method, Teijo-Talot manufactures modular buildings in dry, sheltered conditions that meet the standards of a permanent building, but are portable. Installing the modules next to each other and on top of each other enables the construction of flexible spatial solutions even in large buildings. Teijo-Talot’s goal is to be the customers’ first choice for portable wood construction – the world’s best modular builder. “We are aiming for strong revenue growth without compromising profitability. As part of the Onvest business family, we have a strong background to accelerate our growth,” says Ismo Laitakari, CEO of Teijo-Talot.
“Consumers value more and more ecological and healthy forms of living. At the same time, the environmental requirements set by the authorities become stricter and favor wood construction. Solid wood construction is in high demand. We are very excited to continue building solid wood buildings, developing the industry, and growing our business into the Nordics’ leading group specializing in wood technology and construction,” says Mikko Leino, CEO of Puurakentajat.
Laitakari and Leino see that thanks to the companies’ new ownership structure, both Teijo-Talot and Puurakentajat have better conditions to meet demand, develop wood construction and implement the companies’ growth strategy. Onvest’s commitment to Finnish wood construction and shared values are also particularly important for both operators.
“Our common goal is to promote sustainable, long-life responsible wood construction. We want to create a strong foothold in the modular wood construction market in Finland and support construction that enables clean indoor air and a healthy living environment for future generations. Teijo-Talot and Puurakentajat are pioneers, and by combining their know-how, unprecedented opportunities for the growth of ecological construction will be created in Finnish wood construction,” says Onvest’s chairman of the board Maria Toivanen.
Onvest Oy is a Finnish family company whose roots go back more than a hundred years. The company’s goal is to act as a partner and enabler of sustainable growth for the Finnish companies and properties it owns and to actively develop them. Onvest’s holdings are focused on the following business areas: real estate, steel service business and industrial holdings. Onvest Group’s turnover is EUR 270 million.
Teijo-Talot Oy is a company focused on modular wood construction. The company’s core competence is school, daycare and nursing home construction for the public sector and private service providers. The buildings are always made of wood completely protected from the weather and are 100% portable. The company has factories in Salo, Hämeenlinna and Halsua. The Teijo-Talot group’s turnover in the financial period ended 6/2022 was EUR 23 million.
Puurakentajat Group Oy is a Finnish group specializing in wood technology, with tens of years of experience in solid wood construction and renovation. We design, produce and build ecologically sustainable and healthy small houses, apartment buildings and e.g. schools and kindergartens. Wood builders’ solid wood elements enable modern architectural solutions and make construction more efficient both economically and in terms of the environment and health. We build solid wood buildings where people feel good.
The construction work of the project has started with earth moving, and the work is scheduled to be completed in the fall of 2023. The BREEAM Very good level environmental certificate is being sought for the project.
SSA is already looking forward to the completion of the new premises. The premises of the current module factory in Vantaa Kivistö are becoming smaller due to increased demand.
“High-quality bathroom modules are the cornerstones of SSA’s construction. The modules are used in both our residential care and hotel projects. The new, larger module factory supports the growth of our business and enables further investment in product development,” says Jorma Kilpeläinen, CEO of SSA Rakennus.
“The implementation of our renewed real estate strategy is progressing as planned and the project being implemented now is the first significant step on this path. We want to support the core business of SSA Rakennus and provide it with a property that is as usable as possible, adaptable to changes and conforms to high ESG standards well into the future. We would like to thank Asianajatoimisto Ratiolex Oy, A-insinöörit Oy and Verona Tax & Legal Oy for their help, as well as SSA and its advisors for the flexible transaction process,” says Onvest Development Oy’s Real Estate Director Lassi Välisalo .
“We thank Onvest for the trust and are happy about the cooperation that has begun. SSA would also like to thank Mrec Oy, which acted as a commercial advisor in the project, and Asianajotoimisto Magnusson Oy, which acted as a legal advisor,” concludes Timo Lehesniemi , Finance Director of SSA Rakennus.
Joonas Pönniö has been appointed Chief Financial Officer for Onvest as of 1 September 2022. His previous position was that of the Financial Manager. Following the appointment, Joonas will assume responsibility for the Group’s financial management and investment activities. Congratulations to Joonas on his appointment!
Jaana Kesäläinen-Ruohola started as Onvest’s HR Manager on 8 August 2022. Additionally, she serves as the HR Manager of Onvest’s subsidiary Feon Oy on a part-time basis. She is responsible for Onvest’s human resources matters and daily office management. We wish Jaana a warm welcome to the Onvest family!
Purpose of the website update is to communicate what Onvest is all about at present. As a family-owned company we are proud of our long history and therefore we wanted to also disclose it. The website project as well as the new visual outlook were created in collaboration with Sininen Härkä Oy. With the new website, we are ready to continue the intergenerational journey!
Onvest Oy’s sustainability programme focuses on the parent company’s activities, while at the same time providing a general sustainability framework for the subsidiaries. Onvest will report on its Group-wide sustainability performance annually.
As Onvest Development Oy’s sustainability programme focuses on the company’s real estate business, the objectives, indicators and commitments have been selected accordingly.
The sustainability programmes were prepared in consultation with Ecoreal Oy.
The companies’ sustainability programmes (only in Finnish) are posted in the Sustainability section of the website.