Folmer purchases a majority stake in Europlan Engineering Oy.
Europlan Engineering, a Raisia, Finland-based project managemnt company within the maritime industry, announced getting into an agreement to sell an equity majority package to Folmer Equity Fund II Ky, a fund managed by Folmer Management Oy.
The financial details of the transaction remain undisclosed. As part of the transaction, Hermann's Finland Oy, a company specialized in demanding interior solutions, becomes a wholly-owned subsidiary of Europlan Engineering group. Moreover, the previous owner of Hermann ́s Finland Oy, Heikki Nieminen, will stay with the company.
The current owner of the company, Jari Savola, will continue as the Managing Director and minority shareholder of the company with 40% equity stake.
Europlan Engineering Oy, founded in 1990 and led by Jari Savola, is a Finnish marine technology project management company. The core business consists of providing turn-key projects for both domestic and international clients offering solutions for global cruise ships, superyachts and construction industry.
The estimated revenue of the company for the current fiscal is about EUR 55M.