Recover Nordic acquired L&T Korjausrakentaminen from Lassila & Tikanoja

Recover Nordic, an Oslo, Norway-based provider of remediation and environmental services, announced that it acquired L&T Korjausrakentaminen Oy.

The deal, which has the financial details undisclosed, was made with Helsinki, Finland-based service company Lassila & Tikanoja plc, which decided to focus its operations on its strategic core businesses and divested ts ownership of L&T Korjausrakentaminen Oy, L&T Group’s subsidiary operating in the field of damage repair and renovation services.

The company will operate under the name Recover Nordic Korjausrakentaminen Oy and under its existing Business ID after the closing of the acquisition. Janne Vanhanen will continue as the company CEO.

In 2018, the combined turnover of L&T Korjausrakentaminen and Recover Nordic Finland was approximately EUR 45 million and combined they employ nearly 350 people.

Recover Nordic, led by CEO Bjørn Herlofsen, is a leading Nordic provider of damage control, emergency response and environmental services. Since its establishment as a standalone Group in 2013, Recover Nordic Group has grown to exceed EUR 270 million in revenues and 1,700 employees operating in around 85 branches in 2018. The company is owned by the private equity company Agilitas.