Caverion acquires Wind Controller, a Finnish service company in the wind industry

Caverion Corporation Investor News May 2, 2022 to 1:00 PM EEST

Helsinki, Finland , May 2, 2022 /PRNewswire/ — Caverion acquires Wind Controller, a Finnish service company in the wind industry

Caverion today entered into an agreement to acquire the shares of Finnish service company Wind Controller (“WiCo”). WiCo is the leading technical consultant and service provider for the Finnish wind industry. Its customer base includes turbine suppliers and wind farm owners, operators and developers. By entering the wind power segment, Caverion expands its offer in the energy sector. The transaction complements Caverion’s strong expertise in the energy sector and supports its growth strategy.

WiCo is based in Oulu, Finland and provides technical consulting services for the energy industry in North Europe. It has approximately 40 employees and its turnover has been €5.1 million in 2021. The purchase price is not disclosed.

Driven by the megatrends of sustainability and carbon neutrality, rapidly growing wind power capacity in Finland increases the demand for related services. WiCo provides its customers with services for remote monitoring and control of wind farms, maintenance and repair of critical safety equipment, and inspections of wind turbines and farms.

“Over 10 years, WiCo has become a well-known provider of renewable energy services. Caverion’s service network and energy industry capabilities provide us with excellent opportunities to better serve our existing customers, further expand our customer base and scale our operations to meet the demand created by growing wind energy capacity,” says Kari KoivikkoCEO of Wind Controller.

“This acquisition naturally complements Caverion’s offering in the energy sector which currently includes, for example, the operation and maintenance of power plants, industrial heat pumps and district heating networks as well as the construction and maintenance of electrical distribution systems. We are pleased to be able to support our customers even better in the ongoing energy transition and to welcome new experts who join us. We also believe that Caverion’s existing knowledge and capabilities bring additional value to the acquired business,” says Elina EngmanExecutive Vice President, Caverion Industry.


For more information please contact:

Karoliina Joensuu, Regional Energy Manager, Caverion Industrie, tel. +358 50 412 0546, [email protected]

Milena Hæggström, Head of Investor Relations and External Communications, Caverion Corporation, tel. +358 40 5581 328, [email protected]

This information was brought to you by Cision–a-finnish-service-company-in-the-wind-power-industry,c3558062

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SOURCE Caverion

Veronica J. Snell