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Empower to buy entire share capital of Mitox Oy from Helsingin Energia

Press Release   •   May 07, 2014 11:50 GMT

According to a contract signed today, Empower has agreed to buy the entire share capital of Mitox Oy, a subsidiary of the Helen Group producing metering services. According to the plan, the transaction will enter into force at the beginning of June. About 70 employees will transfer to the Empower Group along with the acquisition.

The acquisition will strengthen the position of Empower and especially Empower IM Oy, which produces information management services, as one of Finland’s leading metering service providers. The arrangement will also support and strengthen Empower’s customer relation with Helen and other Mitox customers and bring significant synergy benefits, e.g. in terms of data systems and data transmission solutions.

The combining resources and expertise of Empower and Mitox will enable provision of increasingly diverse services. We actively develop our services together with our customers, aiming to be a forerunner in the field.

‘Mitox is a highly valued and competent operator in Finland in electricity, district heat, water and district cooling metering solutions, and it is an excellent addition to the multinational Empower’s selection of services. Empower will continue to offer the services provided by Mitox and aim to strengthen Mitox’s customer relations. Together with Mitox’s expert and competent employees, we will be able to serve and develop our services even better,’ says Empower’s CEO Eero Auranne.

‘This decision is positive for both Helsingin Energia and Mitox. Helsingin Energia will focus even more clearly on its core business operations and their development. In terms of Mitox, the new owner will create excellent conditions for developing the metering business, opening new opportunities for the employees,’ Helsingin Energia’s CEO Pekka Manninen points out. 
 
Empower Group Communications
empower.communications[at]empower.eu
Empower Media Desk tel. +358 40 6417 000 (Mon–Fri from 9 am to 4 pm)

Further information:
Eero Auranne, CEO, Empower Oy, eero.auranne[at]empower.fi, tel. +358 29 020 011 (telephone exchange)
Pekka Manninen, CEO, Helsingin Energia, pekka.manninen[at]helen.fi, tel. +358 50 556 7366.

Empower is  a multinational service company which helps keep the wheels of society running and improves the competitiveness of customers. Empower Group builds, installs, maintains and repairs electricity and telecom networks, maintains power plants and factories, and delivers ICT solutions and information management services. Empower provides services in more than a hundred locations in Finland, Sweden, Norway, Estonia, Latvia and Lithuania. Turnover in 2013 was €325 million, and the company has more than 2,900 employees. www.empower.fi

Helsingin Energia is a forerunner in energy efficiency and one of the most significant energy companies in the Nordic countries. The company has about 400,000 customers in Finland, and its district heating network covers over 90% of Helsinki’s heating needs. Helsingin Energia aims to achieve carbon-neutral energy production by 2050.

Mitox Oy is a subsidiary of Helsingin Energia. Mitox offers energy metering, reading and installation services and metering data handling services for the needs of energy companies and real estate customers. The company’s net sales in 2013 totalled €21 million, and it has about 70 employees. www.mitox.fi


 

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