Onvest significantly strengthens its wood construction business area
The family company Onvest significantly strengthens its wooden construction business area by acquiring the entire stock of Teijo-Talot Oy and increasing its ownership in Puurakentajat Group Oy. The completed business acquisitions are intended to achieve a significant position among the wood construction industry.
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.