Hydroline gets EUR 20M in fresh investment, adds Juuri Partners as shareholder.

Hydroline Oy, a Siilinjärvi, Finland-based manufacturer of hydraulic cylinders, announced raising an investment round of EUR 20M. ($22.4M)

The investor list includes Juuri Partners Oy and the investment goal is to further expand international markets while performing the best high mix/low volume production in the world for the demanding needs of equipment manufacturers. After the investment, Hydroline will remain as a family company.

Hydroline Oy, founded in 1962 and led by CEO Mikko Laakkonen, has been a leading operator in Finland in the field of hydraulic cylinders. The company is in a third generation family company employing approximately 250 employees. In 2016 the complete turnover of Hydroline was EUR 36,6M ($41M) and the turnover is expected to grow approximately 20 per cent in 2017. By 2020 company’s target is to double the turnover.