Caverion Corporation Investor news 1 July 2022 at 10.00 a.m. EEST
Caverion acquires the Finnish industrial security service specialist Visi Oy
Caverion has closed the acquisition of Visi Oy ("Visi") in Finland. The company provides industrial video and access control services as well as work and safety communication services. As the requirements for the built environment are continuously increasing, the role of energy management, safety and security technology is gaining more and more importance. The acquisition supports Caverion's sustainable growth strategy and strengthens the company's capabilities in technical security services.
Visi is a Finnish company specialised in industrial video and access control services (CCTV), as well as work and safety communication services. The company was founded in 1955 and is well known in its field with long-term customer relationships including industrial and logistics companies and public organisations. Visi is located in Kotka and has an office also in Imatra. Visi has 22 employees and its revenue was EUR 4.6 million in the financial year ending April 2022. The purchase price is not disclosed.
"It would have required major efforts from us to become a nationwide operator. This is the best solution to get our personnel and company a good home and future in a prominent company. Caverion's customer-centric culture and people focus is a good fit for us. We have been familiar with Caverion's way of working and utilise same products and solutions. I am convinced that we will grow together and can bring our own contribution to developing concepts and ways of working," says Jari Aapio, Managing Director of Visi.
"Visi has a strong market position in Southeast Finland and the acquisition provides a new and solid customer base in industrial technical security services. This enables growing the service offering for new and existing customers. With the new specialists joining us, we will be able to serve our customers even better going forward. We warmly welcome our new colleagues to the team," says Ville Tamminen, Head of Caverion Finland.