The majority acquisition of Savon Aurinkoenergia in Finland by Bravida comes soon after the Swedish company made its first purchase in the solar industry in April 2020 with Solkraft EMK AB in its home country. (Photo Credit: Bravida)
- Bravida has acquired majority stake in solar system supplier Savon Aurinkoenergia in Finland
- With 65% stake Bravida is now the majority owner of the Kuopio headquartered solar company
- The acquisition, said Bravida, is part of its growth strategy to offer green customer offerings
Bravida, a multi-technical service and installations company in Sweden has forayed into the solar market of Finland after acquiring a majority stake in Finnish solar company Savon Aurinkoenergia Oy. The acquisition makes Bravida a 65% stakeholder in Savon with effect from May 20, 2020.
Bravida says this acquisition is in line with its long-term aim to increase greener customer offering.
Kuopio, Finland located Savon is a solar PV system supplier of German made products for the residential and commercial segments in the country. With 63 employees, the company claims to have a turnover of close to €9.3 million ($10.2 million). Savon CEO Arttu Voutilainen said the company hopes to further develop and grow its business together with Bravida.
“This acquisition creates a solid foundation for further development of Bravida’s sustainable customer offering. We look forward to our future cooperation,” explained Marko Holopainen, head of the Finland Division, Bravida in a brief statement.
Back in April 2020, Bravida made its first acquisition in the solar industry when it took over Swedish solar system installer Solkraft EMK AB saying that going forward climate smart solutions will be a growing part of the company’s business in the Nordic region.