Hovako was acquired by the Helmet Capital group of investors

Hovako, a Helsinki, Finland-based company specializing in property development, design and construction in the health care industry, announced that it was acquired by Helmet Capital.

The financial details were not disclosed. Lauri Vappula, founder and main shareholder of the company, continues as the company's CEO and major shareholder of the parent company.

Hovako Oy, founded in 2009, designs and builds nursing homes for the needs of care operators and the ownership of care funds. Hovako operates in the whole of Finland and its headquarters are in Helsinki. In 2017, Hovako's net sales were EUR 9.0 million.