Finnish bioenergy specialists KPA Unicon and Renewa announce merger
Finnish biomass boiler plant specialist KPA Unicon Group has announced that it is merging with Finland-based bioenergy technology company Renewa.
Under the merger contract, KPA Unicon will be purchasing the entire share capital of Renewa.
In a statement, KPA Unicon said: “The transaction will give the Finnish and European Cleantech sector a stronger, renewed player whose solutions will enable increasingly more responsible, more sustainable and more profitable energy production in the energy, forest and raw material industries.”
KPA Unicon produces comprehensive service and technology equipment for heat and power plant projects throughout the lifecycle of the plants. The solutions utilise biofuels and fossil fuels with high energy efficiency. Renewa offers local energy production solutions for biofuel- and waste-fired heat and power plants.
Through the merger, KPA Unicon becomes one of the prominent suppliers for mid-sized heat and power plants in the Nordic countries and Europe.
"We will be able to offer our customers a broader technology portfolio, more comprehensive operation and maintenance services, and more diverse financing solutions. With our enthusiastic and responsible approach, we will help our customers to succeed and support them in environmentally-friendly, reliable and profitable energy production,” said Jukka-Pekka Kovanen, Managing Director, KPA Unicon Group.
The funds managed by Vaaka Partners Oy and the key personnel of the company have been the main shareholders of Renewa since 2008.
"During our ownership Renewa has enjoyed significant growth and internationalization. We believe that the time is right for Renewa to have the opportunity to move forward with a new owner. KPA Unicon offers excellent prerequisites for this,” notes Ilkka Pentikäinen, Partner, Vaaka Partners.
The parties aim to finalise the deal by the end of September of this year.