Ahlström Ahlström Capital, an investment company in the family, sells the infrastructure services company Destia to Colas in France, which operates in the same industry, Ahlström Capital says in a press release.
The parties have decided not to disclose the purchase price.
The transaction is subject to regulatory approval and is expected to close by the end of the year.
Destia is Finland’s largest infrastructure service company. Its services cover infrastructure from design to construction and maintenance.
Destia is a former State Road Administration. In 2008, it was incorporated as Destia, and in 2014, Ahlström Capital acquired it for EUR 148 million.
President and CEO of Ahlström Capital Lasse Heinonen In the press release, Destia estimates that with the new industrial owner Colas, Destia is in good hands in its next growth phase.
With the acquisition of Destia, Colas wants to strengthen its presence in Northern Europe. CEO of Colas EMEA Francis Grass says it sees an opportunity to further develop Destia’s track, earth and aggregates businesses.
“We are very impressed with Destia’s expertise, especially with regard to the digitalisation of construction sites, and their expertise in maintenance services in difficult conditions,” Grass says in a statement.
Destia’s turnover last year was EUR 564 million and the result for the financial year was just under EUR 11 million. The company employs more than 1,600 people.