2016/09/29 JYKI GROUP ACQUIRES PAJAKULMA

Jyki Group Oy, and Governia Oy have today signed an agreement, whereby Governia Oy sells the shares of Pajakulma Oy to Jyki Group Oy.

“For Jyki Group, this transaction is in line with the growth strategy of the Group. This transaction broadens our product and service portfolios, and we are able to put more emphasis on active customer relationships and continue to develop our business activities in the domestic, as well as the international market”, says Aki Siren, CEO of Jyki Group Oy.

“During the ownership of Governia Oy, and under the leadership of CEO Juha Paappa, Pajakulma has made good progress in its business activities, as well as in improving its profitability. However, further business development requires additional resources and financial input into the company, and the sale to Jyki Group, operating in the same business field, gives Pajakulma a good basis to develop the company in the long term. It also opens new opportunities in the export market”, according to the CEO of Governia Oy, Timo Kankuri.

This transaction has no impact on the customer relationships of Jyki Group or Pajakulma. They will continue as before.

Juha Paappa will continue as CEO of Pajakulma Oy.

After this acquisition Jyki Group will employ approximately 250 persons, with the total estimated turnover for 2016 being more than 45 million euros.

MEDIA RELEASE 29.9.2016 (PDF)