The Nordec Group Corporation has been sold to a new consortium company

Nordec Group Corporation press release 22nd September 2022


The Nordec Group Corporation has been sold to a new consortium company

Donges SteelTec GmbH (the “Selling Shareholder”), a wholly owned subsidiary of the German publicly listed private equity holding company Mutares SE & Co. KGaA, has signed an agreement to sell its ownership in Nordec Group to a new consortium company of which major shareholders are Harjavalta Oy and Tirinom Oy.

Nordec Group Corporation (“Nordec” or the “Company”) has today 19th September 2022 been sold to a new consortium company of which major shareholders are Harjavalta Oy and Tirinom Oy, former anchor investors of Nordec Group’s planned and cancelled IPO (Initial Public Offering) from June 2022. The ownership of the acquiring company will additionally include the senior management of Nordec Group Corporation. The business transaction counterparties has agreed jointly that the price of the business transaction is not to be revealed. The business transaction is subject to Finnish Competition and Consumer Authority approval and is expected to be finalized in Q4 2022.

With the takeover of Nordec, Harjavalta Oy strengthens its commitment in the Nordic construction sector, and Tirinom expands its international footprint into new segments of the building industry.

The business transaction published today, when completed, will represent development following the discontinued IPO in Q2 2022 and this ownership change will support and enhance the company’s possibilities to successfully deliver on its business strategy. Nordec Group Corporation has already taken major steps during the H1 2022 in order to grow the business and this year the group is expected to exceed its previously communicated outlook for the year. There is a strong commitment from the organization to further develop the business together with the new owners.

Petri Rignell, the Chairman of the Board of Nordec Group Corporation, comments:

“As Chairman of Nordec Group, I am very pleased to see that through this transaction Nordec Group will get strong Finnish owners with substantial presence and experience in the Nordic construction segment and who also share Nordec’s determination to develop its business and operations to achieve its strategic targets”

Kalle Luoto, the CEO of Nordec Group Corporation, comments:

“As the CEO of Nordec Group Corporation I am looking forward for the cooperation with new owners of the Group. I am excited to take the next steps together with the new owners to grow and develop our business in order to take it to the next level. I also wish to thank our former owners Donges SteelTec GmbH and Mutares SE & Co. KGaA for the great cooperation during the past years.”

Further information


Petri Rignell

The Chairman of the Board of Nordec Group Corporation

Tel: +358 40 505 2404


Kalle Luoto


Nordec Group Corporation

Tel: +358 50 552 9682


Jussi Aine

The President and CEO of Harjavalta

Harjavalta Oy


Information on Nordec

Nordec Group Corporation is, according to the Company’s management estimate based on revenues, one of the leading providers of steel frame structure and envelope solutions for construction projects in the Nordic countries of Finland, Sweden and Norway with a strong position in the Central and Eastern European countries of Poland, Lithuania, the Czech Republic and Slovakia.

Nordec has a long experience in designing, manufacturing and installing frame structures, envelopes and bridges. The main raw material used by Nordec in its construction structures is steel. Nordec’s offering comprises multi-storey, single-storey, heavy industry, bridge, and envelope solutions. Examples of Nordec’s landmark projects include Central Library Oodi in Helsinki, various construction projects related to battery value chain in Sweden, as well as DLS and Dahl logistics centers in Sweden.

Nordec’s revenue for the financial period ended December 31, 2021 was EUR 225.5 million, adjusted EBITDA EUR 11.8 million, adjusted EBITA EUR 9.2 million, and reported operating profit EUR 2.0 million.

More information about Nordec can be found on the Company’s website at

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