Flowplus, a Finnish flow mechanics maintenance service company, received an investment from Juuri Partners.
The amount of the deal was not disclosed.
The company intends to use the funds to grow nationwide based on acquisitions and double its depot network.
Led by CEO Jarmo Piippo, Flowplus offers flow mechanics maintenance services to both municipal customers as well as industrial and energy customers such as Neste and UPM. The latest acquisition was executed in connection with this investment as the company acquired Oulu-based MDA Service’s share capital. MDA Service focuses on the maintenance of large and high voltage electric motors. The company, specialized in megawatt-sized electric machine maintenance, had net sales of €1.6m.
Alongside its growth strategy, Flowplus is developing predictive maintenance and energy audit solutions. The company generated €13m in net sales in 2017 through its network of nine depots.