KPY och LähiTapiola blir minoritetsägare i Gebwell Ltd för att öka tillväxttakten.
Gebwell Ltd., operating in Leppävirta, Northern Savonia, Finland is a company that provides environmentally friendly and ecological heating and cooling solutions, with its customers being HVAC contractors and, as final users, especially large commercial properties, and housing companies. Founded in 2006, Gebwell seeks to play a significant role in providing environmentally friendly solutions in energy transition, where the need for new fossil-free solutions is growing substantially.
The value-based diversified Group KPY and the lifelong insurance company, LähiTapiola, will become minority owners of Gebwell with a total holding of 34 per cent. In order to implement the arrangement, Gebwell will arrange a directed share issue of EUR 15 million. KPY Cooperative’s subsidiary, KPY Momentum Ltd., shall subscribe twothirds of the company and one-third will be subscribed by LähiTapiola. The aim of the arrangement is a long-term ownership to support the development and growth of Gebwell.
The implementation of the arrangement requires the decisions of the Annual General Meeting of Gebwell Ltd., which is to be held on 29 June 2022. Changes in the status of customers and personnel are not affected by the changes in ownership. Janne Rahunen continues as CEO of Gebwell. It is proposed to the Annual General Meeting that Arto Herranen continues as Chairman of the Board of Directors of Gebwell.
Gebwell is the second minority holding of KPY under the Momentum strategy. Gebwell’s turnover for 2021 exceeded EUR 40 million and the company employed around 270 professionals in Finland, Poland, and Sweden at the end of 2021.
“Gebwell has been operating profitably for a long time and has also expanded its business. The current owners of the company are committed to the development of the company, which is an important investment criterion for us. Our values fit together well: we act responsibly, our common goal is to grow profitably, taking into account the changing needs of our customers, and to facilitate work and vitality around us. What is of significance to KPY is that the company we own is competitive and will continue to operate sustainably, both in terms of personnel, owners, and the surrounding society”, says Anssi Lehikoinen, CEO of the KPY Group. He emphasises that KPY will be actively involved in the development of the company and in the expansion of business together with other owners. It is proposed to the annual general meeting that Miika Soininen, Director of Digital Services and IT at Ponsse Oyj, be appointed as the representative of KPY on the Board of Directors.
“In recent years, Gebwell has grown significantly and profitability has remained at a favourable level. This investment will allow the company to further develop its provision of heat pumps, including for the heating needs of large buildings and to make other investments necessary for its operations. We are still seeing significant growth opportunities in the market”, says Antti Leppinen, Portfolio Manager of LähiTapiola.
The green transition creates strong growth potential
The parties of the arrangement believe that heat pumps, as a form of heating and cooling, will dominate the market and replace fossil fuels in both properties and energy utilities. In the future, heating energy and district heating for properties will be increasingly produced by heat pump technology.
“Gebwell is at the heart of this energy transition and our solutions can accelerate the green transition. Our industry is undergoing a change in heating and cooling solutions owned by property owners and produced by renewable energy. Our competitive edge is the flexibility to tailor solutions for customer-specific needs, advanced IoT and automation solutions and, in particular, hybrid solutions that combine geothermal and district heating”, says Timo Hulkkonen, founder of Gebwell.
Hulkkonen says he is pleased that the company received long-term owners who are committed to the company’s operations in Leppävirta. The purpose of the equity now received is to develop Gebwell’s operations in the current localities of Leppävirta, Kuopio, Poland, and Sweden, and to seek growth in new markets as well.
“Gebwell is seeking growth, especially in Finland and Europe. Our growth targets are supported by the global need to find solutions for climate change, rising energy prices and the appreciation of self-sufficiency. As a responsible player, Gebwell strives to be a pioneer in ecofriendly heating and cooling solutions”, says Arto Herranen, Chairman of the Board of Directors for Gebwell.
“Gebwell’s competence, especially from the point of view of green transition and corporate responsibility, is not only a business opportunity, but also an ecological opportunity, and even a potential impact on the cost of financing client companies. The silent and vibration-free technology, intelligence, automation, and applicability of the lifecycle model to industrial sites developed in Finland are also the strengths of Gebwell. These allow us to see the company as having significant growth potential. In addition, our view is that the applicability of solutions for existing property automation is on an excellent level. Finland needs more international-level development and solutions to cope with the accelerating competition, not only in Finland but also in other parts of Europe”, says Kirsi Huusko, CIO at KPY.
Further information available from:
Kirsi Huusko, CIO of the KPY group
[email protected], 040 355 6629
Anssi Lehikoinen, CEO of the KPY group
[email protected], 050 328 2648
Timo Hulkkonen, Founder of Gebwell Oy
[email protected], 040 089 7413
Antti Leppinen, LähiTapiola Vahinkoyhtiö, Portfolio Manager
[email protected], 09 4531
KPY Group in a nutshell
KPY is a value-based multidisciplinary group owned by an entity formed by the cooperative owners of the KPY Cooperative. We seek to build vitality beyond our own operations by investing our value base in appropriate, start-up and early-stage, outperforming profitable growth companies and by developing our modern office buildings that promote the working day experience. We are close to reaching 140 years of operations, a group strongly committed to the development of our affiliates, whose turnover for 2021 exceeded EUR 300 million. Our vision for 2026 is to be a business ecosystem, one of Finland’s most prestigious growth environments for successful performers. This vision is being implemented both by owning more diverse companies of interest (KPY Momentum strategy) and by creating ecosystems and communities that attract talent and create the conditions for business growth (KPY Nova strategy). We believe that our momentum and Nova strategy policies naturally complement and support each other.
Gebwell Ltd. in a nutshell
Gebwell Ltd. designs, manufactures, and assembles solutions for heating and cooling. The company offers clean heating solutions and promotes the green transition toward fossil-free heating. The company’s core products are heat pump solutions and district heat distribution centres that utilise IoT technology. Gebwell manufactures products that heat and cool buildings in an energy efficient and low-emission manner. In addition to providing equipment deliveries, Gebwell provides model solutions for HVAC engineers, supports HVAC contractors’ practical project implementation, and provides commissioning, lifecycle, and maintenance services.
The turnover for the Gebwell Group in 2021 exceeded 40 million euros. The company’s main market is in Finland. In addition, the company is currently active in the Polish and Swedish markets. The Group employs approximately 270 employees, of whom approximately 200 are located in Finland, 60 in Poland, and 9 in Sweden. The company started operations in 2006.
LähiTapiola in a nutshell
LähiTapiola is a life-long insurance company owned by its customers and serves individuals, farms, entrepreneurs, companies, and communities throughout Finland. The LähiTapiola Group’s products and services cover damage, life and pension insurance, investment and saving services. LähiTapiola is also a highly valued professional in risk management and employee wellbeing.
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