Finland´s leading technical equipment inspections companies to merge [2005-03-22]

In a deal agreed on March 22, 2004, Inspecta Oy, which specialises in ensuring technical safety and usability, has bought 94% of Sähkötarkastus Fimtekno Oy’s share capital from the Finnish Electrical Safety Development Association. At the same time the Association will become one of the shareholders of Inspecta Oy with a holding of more than 8%.

Fimtekno inspects lifts, cranes and electrical equipment, etc, and provides further vocational training. The company employs 73 staff and had a turnover in 2003 of EUR 6.5 million. All of Fimtekno’s staff will transfer to Inspecta without any loss of seniority.

Inspecta tests and inspects pressure equipment and other critical safety devices in the energy and process industries and certifies quality and management systems. Inspecta employs 330 staff and turnover in 2003 was EUR 25.1 million.

Both firms operate nationally. Inspecta has offices in 27 localities and Fimtekno in ten. By combining the office network, the availability of services supplied by Fimtekno will be expanded further.

The purpose of the arrangement is to continue building an inspection company of international stature in Finland. The companies’ services complement each other extremely well and the merger is a logical step for Inspecta as it expands its operations into other areas such as inspecting technical equipment in buildings.

The merger will enable Inspecta to offer services that promote technical safety and usability to a greater number of clients and range from testing single appliances to production plant level and management systems.

Inspecta’s principal shareholder is the Finnish private equity firm MB Funds which is also the principal shareholder of A-Katsastus Oy which operates in the vehicle inspection industry.

Further information is available from:

Inspecta Oy
Simo Hassi
Managing Director
Tel: +358 (0)10 521 6200 or +358 (0)50 2255
Email: simo.hassi@inspecta.fi

Veli-Matti Laakso
Marketing Manager
Tel: +358 (0)20 366 996 or +358 (0)400 471 184
Email: vm.laakso@fimtekno.fi

Finnish Electrical Safety Development Association
Lauri Mäki
Secretary
Tel: +358 (0)9 682 41312 or +358 (0)50 327 6049
Email: lauri.maki@tkl.fi

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