Volati Hem och Beslag Finland Ab has acquired the Finnish Pisla Oy based in Viitasaari. The parent company of the Volati group is the publicly traded Swedish Volati AB. The group includes Pisla and another leading company of the industry, Habo Gruppen AB. Together, Pisla and Habo constitute the leading supplier of household hardware and decorative items in the Nordic countries.
Pisla supplies household hardware and decorative items to department stores, hardware stores, and interiors shops. Pisla’s product portfolio also includes Opa kitchen utensils, Muurikka outdoor cooking products, and Demerx bathroom accessories. Since 1976, Pisla has operated in Viitasaari, Finland. Pisla has a very strong market position in Finland and the company’s sales have been growing in the Baltic countries in particular.
The managing director of Pisla Group Ltd, Pekka Kuivalainen, says that the company’s current management will stay on board and that the head office of Pisla will remain in Viitasaari.
Midinvest first invested in Pisla in 2004 when the Kinnunen family, who had owned the company for 28 years, sold their shares. At the time, the company had a turnover of 13 million euros, which has increased to 34 million euros in 2019. The Pisla Group has mainly grown by expanding its product portfolio and focusing on the export market. The group includes the Pisla companies acquired by Volati. A Polish subsidiary, Vertex, was sold off at the end of last year. Jukka-Pekka Nikula, the managing director of Midinvest Management Oy, considers the acquisition a logical step for the development of Pisla. “We have supported the development of Pisla for 16 years and we are happy with the results. The new arrangement makes for an even stronger whole that inspires further confidence in future development and growth.”
Further information:
Pekka Kuivalainen, managing director, Pisla Group Ltd, tel. +358 10 843 210
Jukka-Pekka Nikula, managing director, Midinvest Management Oy, tel. +358 50 539 9378
Midinvest Management Oy is a private equity management company specialising in the ownership arrangements and growth funding of small and medium-sized enterprises. The biggest investors of the funds managed by Midinvest are Finnish institutional investors. Currently, the Midinvest funds have 15 target companies. www.midinvest.fi
Pisla Group Ltd is the leading supplier of hardware and decorative products in Finland. In addition to their own brand, Pisla owns Opa, Muurikka, and Demerx. The group’s turnover was 34 million euros in 2019. www.pislagroup.com
Habo Gruppen AB sells interior decoration products through construction product and hardware stores. The company’s turnover is 460 million Swedish kronor [€44m] and it has 100 employees. Its head office is located in Habo, Sweden, near Jönköping. Habo is owned by Volati, a publicly traded company.