On October 13, 2021, Karnell acquired 97.7% of the shares in KL Mechanics Oy ( www. klmechanics .fi > ) together with the management, which has become a partner with 2.3% of the shares. The intention is to continue to develop the business in Finland by growing new and existing customers and through acquisitions.
KL Mechanics is a Finnish precision manufacturer with a focus on fine mechanics, machining of metal parts, injection molding and assembly for many high-tech and demanding customers in a number of industries. KL Mechanics had sales of EUR 11.7m in 2020 with good profitability.
“Karnell has a long-term ownership horizon and invests in Nordic market-leading companies in industrial technology with great growth potential. KL Mechanics is one of the largest precision manufacturers in Finland with a good reputation as a quality supplier and partner with most blue-chip customers. We look forward to working with Mikko and others in the company to create additional value in the company “, Petter Moldenius CEO at Karnell.
“We look forward to working with Karnell to take KL Mechanics to the next level in its growth journey. At Karnell, we get a good strategic and financial partner to strengthen our market position in Finland. Furthermore, we appreciate the opportunity to become a partner in a company that we have worked for for many years and thus take part in the company’s successes together with Karnell ”, Mikko Autio, CEO of KL Mechanics.
For more information, contact:
Petter Moldenius, CEO, Karnell, Phone +46 8 545 891 00