KPA Unicon Group, the Finnish biomass boiler plant specialist, has recently announced that it is fusing with Finland-based bioenergy technology company Renewa.
Under the merger contract, KPA Unicon will be purchasing the entire share capital of Renewa.
In a statement, KPA Unicon said: “The transaction will give the Finnish and European Cleantech sector a stronger, renewed player whose solutions will enable increasingly more responsible, more sustainable and more profitable energy production in the energy, forest and raw material industries.”
KPA Unicon produces comprehensive service and technology equipment for heat and power plant projects throughout the lifecycle of the plants. The solutions utilize biofuels and fossil fuels with high energy efficiency. Renewa offers local energy production solutions for biofuel- and waste-fired heat and power plants.
Through the merger, KPA Unicon becomes one of the prominent suppliers for mid-sized heat and power plants in the Nordic countries and Europe.
"We will be able to offer our customers a broader technology portfolio, more comprehensive operation and maintenance services, and more diverse financing solutions,” said Jukka-Pekka Kovanen, Managing Director, KPA Unicon Group.
The funds managed by Vaaka Partners Oy and the key personnel of the company have been the main shareholders of Renewa since 2008.
The parties aim to finalize the deal by the end of September of this year.