Saari Partners invests in Cervi Talotekniikka to build Finnish industry leader in ventilation services – aims for fivefold increase in sales
Finnish private equity fund Saari I acquires a majority stake in ventilation services market leader Cervi Talotekniikka. Cervi has grown organically from 1.5 M eur to 4 M eur in one year and is now targeting to further accelerate growth together with Saari Partners. Cervi aims to increase sales fivefold within the investment period, aided by a steadily growing repair construction market.
Current owners CEO Petri Valve and Sales Director Karl Jensen will stay on in their present roles and as substantial minority shareholders of the company.
”Cervi’s passionate team, strong culture and superb growth impressed us”, says Ben Wrede from Saari Partners. “They have along and successful track record within the industry, but we were especially happy to see their forward looking attitude and constant drive towards improvement. Cervi has already taken good steps forward in digitalization and now will be able to increase the speed of development, improve the customer experience and also include new and proven technologies in our services”, Ben continues.
”With Saari’s commitment, two excellent teams are now joining forces. For us, it was crucial to find a partner who understands that value is more than numbers, and that the foundation for success is laid within the people, the employees of a company. We believe that the cooperation between us and Saari will be beneficial not only for the company, but for all of us”, adds CEO Petri Valve.
”In service businesses, brand equals people, and Cervi has invested well in building a successful company culture. The brand development will focus on making that culture visible to all stakeholders, and steer Cervi towards being the best employee brand in its industry”, says Mia Sirkiä from Saari Partners.
Cervi is set on growing both organically and through acquisitions. The year 2018 is expected to end with above 6 M eur in revenues and a profitable result.
Digital technologies transform ventilation services
Cervi is the market leader in its industry and it currently employs 100 persons in the Helsinki and Tampere areas. Cervi offers a complete set of ventilation services, ranging from analysis and measurement to installation and maintenance of ventilation systems. One of the primary goals of the new partnership is to strengthen Cervi’s position as an end-to-end service provider for ventilation related services, and increase the company’s geographical coverage within the Finnish market.
“We are very proud that we have been able to create our own digital environment for continuously improving our operations”, says sales director Karl Jensen. “We have pushed forward with automation, and, maybe even more importantly, focused on customer communication, so usually we are able keep the customer updated in real time of what has happened and what is happening next.”
The company will continue its substantial investments in digitalization. Using modern sensor technologies and intelligent ventilation systems, it sees good opportunities for increasing the quality of air as well as energy efficiency for building residents, management and owners.
Cervi Talotekniikka. Our mission is to be the best partner for our customers in air ventilation systems. We serve our customers by bringing in services and products that will improve air quality and thus quality of life. Decreased energy consumption will have both economical savings and minimized carbon foot print. www.cervi.fi
Saari flourishes on the strengths of its community. On capability, experience and commitment. The companies in our portfolio are our partners who will benefit the most from our competence and experience. By providing the required resources and complementing the company’s strengths we serve as pilots over the next critical phase of the company’s growth. Saari creates the framework for strengthening a company and piloting it to the next level of success. For more information: www.saaripartners.fi
Mia Sirkiä, Partner, Saari Partners Oy, tel: +358 40 8600240
Petri Valve, CEO Cervi Talotekniikka Oy, tel. +358 40 0435447