Nordic Rescue Group acquires Sala Brand AB and expands operations to Sweden.
Nordic Rescue Group ("NRG"), which manufactures rescue vehicles, has today acquired the entire share capital of Sala Brand AB in Sweden. The transaction is part of the NRG's strategy as an international system supplier. With the transaction, NRG will expand its operations to Sweden, creating a leading Nordic rescue and fire fighting vehicle group.
More information Sievi Capital.
Sievi Capital plc will own majority shareholdings in Saurus Oy and Vema Lift Oy under the terms of
a transaction agreement signed on 7 January 2020. State-owned investment company Tesi (Finnish
Industry Investment Ltd) is a co-investor in the transaction arrangements. Saurus and Vema Lift,
manufacturers of firefighting and rescue vehicles, will in future form a newly founded corporate
group. The vendor, Kiitokori Group, will divest all ownership of the companies but will continue to
support their growth by providing additional capacity as a subcontractor.
Saurus Oy’s and Vema Lift Oy’s strong product portfolios, existing customer relationships and brand
recognition will enable accelerated growth to meet the market’s growing demand. There will
continue to be considerable investment in both product development and production capacity. The
ownership arrangements now agreed will form a strong framework for the new corporate group. A
new-generation and long-sighted entrepreneur that can rejuvenate the business and accelerate growth
in the global market for rescue vehicles was sought for the companies.
Rejuvenation and increased production will be achieved in the future also in a way that always
allows us to succeed together with our customers. Existing partnerships and cooperation platforms
form a springboard on which it will be a pleasure to build future operations. Kiitokori Oy’s CEO
Antero Sirkka is involved to support continuity of business operations until a new CEO for the
corporate group being founded has been appointed.
Looking forward to our fruitful cooperation in the future.
Vema Lift Oy
Information about the new owners:
Sievi Capital is a listed (Nasdaq Helsinki) private equity investment company that invests in small
and medium-sized Finnish companies. Sievi Capital is a partner for portfolio companies’
management and co-owners that actively supports growth, profitability and value creation.
Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise
Finland to the front ranks of renewing economic growth by investing in funds and directly in
companies. We invest profitably and responsibly, together with co-investors, to create the world’s
new success stories. Our investments under management total 1.2 billion euros. Ambition for
ownership and success. www.tesi.fi | www.dtg.tesi.fi | @TesiFII
Ville Nykänen (Master of Engineering) has been appointed as Production Planner of Saurus Oy starting from 2 May 2019. His responsibilities include production planning and controlling. He will also have a significant role in projects of development of production. He will take part in training and exhibition events, too.
His previous work assignments have been with the tractor factory Valtra and the bus company Savonlinja, in which he has gained much experience in supervisor tasks in workshop and production environments.