Folmer Equity Fund II Ky, a fund managed by Folmer Management Oy, is making an investment in marine sector by acquiring a majority stake in Europlan Engineering Oy. As part of the transaction, Hermann's Finland Oy, a company specialized in demanding interior solutions, becomes a wholly-owned subsidiary of Europlan Engineering group.
Europlan Engineering Oy, founded in 1990, is a leading Finnish marine technology project management company. The core business of Europlan Engineering Oy consists of challenging turn-key projects for both domestic and international clients. The company provides solutions for global cruise ships, superyachts and construction industry. The company’s project management capabilities as well as its flexible network of subcontractors enable large-scale global projects. The estimated revenue of the company for the current fiscal year is ca. 55 MEUR.
The current owner and Managing Director of the company, Jari Savola, will continue as the Managing Director and minority shareholder of the company with 40% equity stake. Moreover, the previous owner of Hermann's Finland Oy, Heikki Nieminen, will stay with the company.
“I wanted a partner that will ambitiously pursue the company to the next level through all aspects of the company. With the large global orders in the backlog, we need particularly high standards as a company. We look forward continuing to exceed the expectation levels of our clients”, says Jari Savola, The Managing Director of Europlan Engineering Oy.
“The prevailing megatrend of growth within the cruise ship industry provides us tailwind. Moreover, considering the business climate, the opportunity to expand into new business segments is attractive”, says Sami Tuominen, the Managing Director and Partner of Folmer. “Europlan Engineering Oy consists of group of experienced special talents of the Finnish marine industry. Hermann's Finland Oy offers exceptional production engineering capabilities. Together the companies make a globally-recognized pioneer”, adds Johanna Marin, the Investment Director and Partner of Folmer.