Sievi Capital Plc
Press release April 7, 2022 at 2:00 p.m. EEST
Tornells Maskinuthyrning be part of KH-Koneet Group
KH-Koneet Group acquired the capital of Törnells Maskinuthyrning, a company specializing in the rental of earthmoving machinery.
Törnells Maskinuthyrning AB is a Swedish earthmoving machinery rental company founded in 1990. The company has grown well in recent years and its net turnover for the year ended August 2021 amounted to 47 million SEK. The premises of Törnells Maskinuthyrning are located in Gothenburg and the company employs 18 people.
The acquisition supports the KH-Koneet Group’s position in the Swedish market and strengthens the company’s ability to serve its customers with flexible deliveries. Demand for rental machines has grown strongly in Sweden and Törnells Maskinuthyrning’s extensive machine fleet provides an excellent basis for the rapid growth of rental operations, enabling the provision of comprehensive services to old and new customers.
Teppo Sakari, CEO of KH-Koneet Group, is satisfied that the company’s growth in Sweden is proceeding according to long-term plans and that the acquisition could be completed quickly. Törnells Maskinuthyrning is already familiar with the KH-Koneet Group, as he was the principal owner of the machine rental company S-Rental, which the KH-Koneet Group acquired in 2020.
“The acquisition is a natural next step for us and we consider it important for the whole group to further strengthen our position in Sweden. We have known Törnells for a long time, both through previous cooperation and through S-Rental, which helped to speed up the acquisition and provided a solid basis for further operations. I also consider it positive that with the acquisition our Swedish organization is strengthened by competent personnel from Törnells, and I would like to warmly welcome them to our company,” said Teppo Sakari, Group CEO KH- Koneet.
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Sievi Capital is a partner for Finnish entrepreneurs. We support the growth, performance and value creation of small and medium-sized enterprises while strengthening national competitiveness. We believe that we succeed together as joint venturers. Sievi Capital’s share is listed on Nasdaq Helsinki.