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Destia acquires Oulun Energia Urakointi Oy from Oulun Energia

Fri 19 Mar 2021 09:10:00 AM EET

Destia acquires the share capital of Oulun Energia Urakointi Oy from Oulun Energia. In the transaction, the operations of Oulun Energia Urakointi Oy will be transferred in their entirety to Destia, including business, personnel, equipment and agreements. Oulun Energia Urakointi Oy has approximately 70 employees.

The acquisition strengthens Destia's energy business and telematics and traffic infrastructure business, which includes, for example, variable speed, warning and information signs, road weather stations and traffic surveillance cameras. With the acquisition, Destia will become one of Finland's most significant builders of energy networks.

In the transaction, Oulun Energia Urakointi Oy's current customers and agreements will continue unchanged. Destia's goal is to develop customer relationships and generate added value for both existing and new customers.

“The energy sector is undergoing a major transformation and we see opportunities for growth in it. For a few years now, we have been developing our business in electricity grids, renewable energy and electric vehicle charging. The service portfolio and skilled personnel of Oulun Energia Urakointi Oy further complement and strengthen our business in the energy sector, telematics and regionally, especially in Northern Finland”, says Tero Kiviniemi, President and CEO, Destia.

“In line with our new strategy, Oulun Energia will focus on the development of energy production, district heating and electricity transmission, as well as the circular economy as a new business. The divestment of the electrical contracting business supports the implementation of Oulun Energia's strategy. We are pleased that the operations of Oulun Energia Urakointi Oy will be continued by a reliable company that will further develop its business locally. Destia will also be able to offer versatile and inspiring work to the skilled personnel in the future”, says Juha Juntunen, President and CEO, Oulun Energia Group.

About Destia
Destia is the biggest infrastructure service company in Finland. Our services cover the entire infrastructure life cycle from design to construction and maintenance. We create urban construction innovations and smart infrastructure solutions that facilitate the movement of people, goods, services and energy as part of northern life. We build tomorrow’s infrastructure with the unique sense of infrastructure of our 1,700 professionals. Destia’s revenue amounted to approximately MEUR 565 in 2020. Destia is a private company owned by Ahlström Capital Oy. www.destia.fi/en/

About Oulun Energia
Oulun Energia is based on energy production and heat and electricity transmission, but the transition to new business initiatives based on a circular economy is under way. The company will develop smart, energy-efficient energy solutions that benefit its customers and move toward carbon-neutral energy production by 2035. Oulun Energia is responsible for people and the environment, and making future generations proud of its work is important. Oulun Energia was founded in 1889 and currently has about 300 experts in energy industry.