Sievi Capital Plc
Press release 7 April 2022 at 2:00 pm EEST
Törnells Maskinuthyrning to become part of KH-Koneet Group
KH-Koneet Group has acquired the share capital of Törnells Maskinuthyrning, a company specialised in earth-moving machinery rental.
Törnells Maskinuthyrning AB is a Swedish earth-moving machinery rental company founded in 1990. The company has developed well in recent years and its net sales for the financial period ended August 2021 were SEK 47 million. Törnells Maskinuthyrning’s premises are located in Gothenburg, and the company employs 18 people.
The acquisition supports KH-Koneet Group’s position in the Swedish market and strengthens the company’s ability to serve its customers with flexible deliveries. The demand for rental machinery has been growing strongly in Sweden, and Törnells Maskinuthyrning’s extensive fleet of machinery provides an excellent basis for the rapid growth of the rental operations, enabling the provision of comprehensive services to both old and new customers.
Teppo Sakari, CEO of KH-Koneet Group, is satisfied with the company’s growth in Sweden proceeding according to long-term plans, and that the acquisition could be carried out quickly. Törnells Maskinuthyrning is already familiar to KH-Koneet Group, as it used to be the main owner of the machine rental company S-Rental, which KH-Koneet Group acquired in 2020.
“The acquisition is a natural continuation for us and we consider it important for the whole group that we further strengthen our position in Sweden. We have known Törnells for a long time, both through previous cooperation and through S-Rental, which helped speed up the acquisition and provides a strong foundation for continuing operations. I also see it as positive that with the acquisition, our Swedish organisation will be strengthened with competent Törnells personnel, and I would like to warmly welcome them to our company,” says Teppo Sakari, CEO of KH-Koneet Group.
SIEVI CAPITAL PLC
CEO Jussi Majamaa, tel. +358 400 412 127
Sievi Capital is a partner for Finnish entrepreneurs. We support the growth, performance and value creation of small and medium-sized companies and concurrently build national competitiveness. We believe that we succeed together as co-entrepreneurs. Sievi Capital’s share is listed on Nasdaq Helsinki.
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