CTS Engtec was acquired by Helmet Capital

CTS Engtec, a Kouvola, Finland-based engineering design company, announced that it will be acquired by a group of investors led by Helmet Capital.

The deal, which has the financial details not disclosed, will be made with Nordic Mezzanine, a major shareholder of CTS, which will sell its shareholding position to a group of investors managed by Helmet Capital.

The new investors acquired the entire share capital of CTS Engtec and include private individuals, insurance companies and other institutional investors. Managing Director Antti Lukka and Project Manager Harri Soininen will continue as personal owners.

The announcement was made in conjuction with the company's process to finalize its corporate restructuring program well ahead of schedule. CTS had been under a corporate restructuring as The District Court of South Karelia decided to commence business reorganization at the end of November 2013.

In connection with the change of ownership base, CTS Engtec will terminate the restructuring program prematurely by paying off the remaining restructuring debt.

The CTS Engtec Group includes the parent company CTS Engtec Oy and its subsidiary OOO CTS Engtec in St. Petersburg. The Group's turnover is approximately EUR 9 million and it employs approximately 100 people.

Headquartered in 1973, CTS Engtec is headquartered in Kouvola and other offices in Helsinki, Turku and Oulu. CTS Engtec specializes in process industry investment consulting and project management services. The company's main business areas are the paper and pulp industry, the chemical and petrochemical industries, the mining and metals industries, and the energy industry. In addition, the company has significant expertise in data center services.