Finnish PE/VC News
Purkupiha and Dammega join forces and form a full-service group in the demolition and recycling industry
A fund managed by the Finnish private equity company Sentica becomes majority owner of Purkupiha and Dammega in order to support the companies’ growth. The owners of both companies retain a significant stake and continue as operative leaders in the new group.
Purkupiha is a company specialized in the demolition of entire buildings and factories. In addition to heavy demolition, the company’s core business includes recycling and re-use of building materials. Dammega is a company specialized in the removal of asbestos and other hazardous substances. In addition, the company conducts demanding renovation demolition work. The companies’ combined sales exceed EUR 20 million.
”The group formed by Purkupiha and Dammega is known for high quality and reliability, and its position in the domestic demolition and recycling market is strong. Together with the operative management we aim to create an industry-leading player, whose business operations are based on high quality demolition, as well as recycling and re-use of building materials”, states Sentica’s Investment Director Timo Sarkki.
“The companies’ prospects to continue on their strong and profitable growth paths seem even better now that we join forces and Sentica supports us”, says Purkupiha’s CEO Kari Kärkkäinen, who will become CEO of the new group. “We are planning to grow both organically and through acquisitions”, he continues.
Ari Hoppania, Dammega’s CEO, is also satisfied with the
transaction. ”Purkupiha is an excellent partner for us, as the company shares
our key competitive edge, which is, now and in the future, high quality”, he
Investment Director Timo Sarkki, Sentica +358 40 744 6252, firstname.lastname@example.org
CEO Kari Kärkkäinen, Purkupiha +358 40 551 0391, email@example.com
Purkupiha Oy, established in 2003, is a Finnish company specialized in the demolition of entire buildings, factories and industrial structures. The largest customers of the company include leading construction companies. www.purkupiha.fi
Dammega Oy, established in 2008, is a Finnish company specialized in the removal of asbestos and other hazardous substances. In addition, the company engages in demanding renovation demolition projects. www.dammega.fi
Sentica Partners Oy is an independent private equity company focusing on acquiring and developing Finnish mid-sized and small companies. The funds under Sentica’s management amount to some EUR 480 million with fund investors consisting of Finnish institutional investors and high quality European fund of funds. www.sentica.fi