Juuri Partners and Ilmarinen acquire 30% in digital engineering company Nitor Group

Translink Corporate Finance announces the acquisition of approximately 30% of the outstanding shares in Nitor Group Oy by Juuri Partners and Mutual Pension Insurance Company Ilmarinen. Based in Helsinki and Stockholm, Nitor Group is a highly renowned digital engineering company and has been awarded as a Red Herring Global Top 100 winner, the Tivi ICT Company of the Year in Finland, and one of the best places to work in Europe as listed by the Great Place to Work® institute. Nitor Group and its almost 200 employees create adaptive business-critical systems and services with a lifetime guarantee. The Group has managed to triple its turnover during the last five years to EUR 30 million, whilst increasing their already market-leading profitability. Translink acted as the exclusive financial adviser to Nitor Group and the founding partners in the transaction. Founding partner Ville Paasimaa was very satisfied with the decision to engage Translink as financial advisor: “Without Translink this deal would not have happened. These are demanding and difficult processes that need to be executed by a specialized, experienced deal team.”  

Nitor, known for its high employee satisfaction, will also broaden its ownership by offering Nitor employees a more extended opportunity to purchase shares in the company. “Employee and client satisfaction are at the core of our success. With this investment, we are better equipped to develop Nitor’s strengths without changing our culture and customs. We will continue to ensure that we are the best place to work for our digital engineers,” says Olli Auvinen, CEO of Nitor Group.

At Translink we see IT consulting as a sector where the leading players are consistently outperforming the market despite the market turmoil brought on by COVID-19. High-quality companies with long customer relationships thanks to highly skilled and satisfied employees will continue to generate interest from both public and private markets. High-performing companies attract more customers and skilled employees looking for stability and reliability in an increasingly volatile market environment. We therefore expect the star companies in this sector to continue to grow rapidly both organically and inorganically.