Norvestor invests in industrial software and digitalization services provider Pinja
Norvestor VIII SCSp (“Norvestor VIII”), has signed an agreement to acquire majority of the shares in Pinja Group Oy (“Pinja” or “the Company”), a leading digital transformation partner for industrial companies and digital society.
Pinja helps its customers digitize their operations by providing proprietary, vertical specific software solutions, related services and consulting. Pinja combines strong sector expertise within manufacturing, forestry and bioenergy & recycling with technological delivery capabilities and provides mission critical, end-to-end solutions for its customers. Operating in a still emerging and rapidly growing industrial digitalization market, Pinja’s solutions enable significant efficiency improvements within customer operations. Along with its blue-chip customer base Pinja has presence in more than 30 countries already.
“We are excited to partner up with Pinja for its next growth phase. A great base has been set during the past years by Veli-Matti and his team by strengthening the software offering within the selected verticals and gaining industry leading customer references. Pinja is now ready to further accelerate internationalization and Norvestor is well positioned to support it. We see ample opportunities for the committed management team – who has vast sector and leadership expertise coupled with a proven track record executing both organic growth and M&A – in expanding the offering towards taking a leadership position in next generation industrial digital technologies. In addition to helping in digitalization, Pinja has a central role in supporting its customers in their efforts towards energy and resource efficiency, putting it right in the sweet spot of Norvestor’s investment strategy” says Marika af Enehjelm, Partner at Norvestor Advisory.
“Following a transformational period in the ownership of MB Funds, we have now agreed on our strategy for the next phase together with Norvestor and expect good support especially in the Nordic and European SaaS markets, speeding up our internationalization through acquisitions in the Nordics and Germany. Industrial companies are accelerating their utilization of data analytics related to production. In this field we want to be the go-to partner recommended by our customers, and the market leader” says Veli-Matti Nurminen, CEO of Pinja.
Pinja is headquartered in Jyväskylä, Finland, with annual pro forma revenues of approximately EUR 40 million.
Following the acquisition from MB Funds and certain other shareholders, Norvestor VIII will become the largest shareholder in Pinja, followed by the Company’s management and key employees.
The transaction is expected to close around year-end, subject to customary closing conditions.
For further information:
Marika af Enehjelm Partner, Norvestor Advisory
Tel: +358 40 553 6934
Veli-Matti Nurminen, CEO, Pinja Group
Tel: +358 50 385 9911