Karnell acquires a majority of Rotomon Oy
Karnell has on January 11, 2022, acquired a majority of the shares in Rotomon Oy (www.rotomon.fi). The company’s CEO Antti Kuukkanen and the current main owner Midinvest Oy (www.midinvest.fi) continues as minority shareholders together with Karnell. The intention is to continue the growth in Finland with new and existing customers and to continue the development of the operations in Kangasniemi, where Rotomon is based.
Rotomon is a fast-growing manufacturer of rainwater-, culvert-, drainage- and cable protection pipes and wastewater treatment systems with their own products and brand. Customers range from national and regional hardware chain stores in Finland to direct sales to construction and excavation companies. Rotomon had estimated sales of EUR 12.3m in 2021 with good profitability and an impressive track-record of more than 10 years of consecutive growth.
“We are pleased to welcome the team to Karnell and look forward to working with Antti and Midinvest to continue the development of the business. We are impressed by the company’s growth and the increasing market position in Finland under the leadership of Antti. We see great potential for Rotomon to continue the growth and are excited to be part of the journey ahead”, says Petter Moldenius, CEO at Karnell.
“We look forward to working with Karnell to take Rotomon to the next level in its growth journey. In Karnell, we get a good strategic and financial partner to support us with the continued development of the business”, says Antti Kuukkanen, CEO and co-owner of Rotomon.
“I am proud to join forces with Karnell in the next phase of the company’s development. It has been a great journey since we joined as main owner in 2018 together with Antti and we are happy to have found a new long-term and responsible main owner of the company that we will continue to develop the business together with in the years to come”, says Jukka-Pekka Nikula, Managing Director of Midinvest.
For further information please contact:
Petter Moldenius, CEO at Karnell, Phone: +46 8 545 891 00