Arcteq Relays Ltd., a Vaasa-based company specialized in the protection of electricity networks, got a new minority stakeholder when Ensto Oy, an international cleantech company specializing in the development, manufacture and marketing of electrical systems and supplies for the distribution of electrical power as well as electrical applications, bought 20 % of Arcteq’s shares. These shares were earlier owned by foreign investors. The contract signed on 16 August means, that from now on Arcteq’s ownership is fully based in Finland. 80 % of the company’s shares still belong to its key personnel, and the company will continue working with its unique entrepreneurial spirit.
“Ensto is a well-known family business who has a world-class brand on the market of electrical systems and supplies. It is brilliant Ensto wanted to develop our co-operation also towards ownership level. We are now a 100 percent Finnish company, and proud that such a strong, knowledgeable Finnish family business is committed to Arcteq’s operation on a long term basis”, says Juha Arvola, CEO of Arcteq.
Ensto’s investment gives Arcteq better possibilities to grow and develop and the company can now increase its R&D and marketing investments. Ensto’s international sales network reinforces Arcteq’s sales network, which already covers 40 countries.
“We are also happy to welcome Ensto’s long entrepreneurship experience into our board room”, Arvola says.
Product integration started the co-operation
Co-operation between Ensto and Arcteq started some 1.5 years ago when Arcteq started to integrate its AQ200 series protection relay into Ensto’s Smartcloser vacuum recloser. The project proceeded well, and the pilots will soon be put into use in the distribution networks of Pohjois-Karjalan Sähkö and Enontekiön Sähkö.
During this project it became clear that even if the two companies work on the same field they don’t compete with each other. Both companies work globally, but they still have a slight difference between their strongest market areas. When also their values met it was easy to proceed into discussions of co-operation in ownership.
“Arcteq has strong know-how in protection relay technology and thorough knowledge of the market. I believe the company has excellent opportunities to grow into a significant player on its field. Arcteq’s products are crucial in controlling reliability of electricity networks, which will be more and more important also for our business”, says Markku Wederhorn, President of Ensto Utility Networks.
Products of Arcteq and Ensto don’t compete but their customers are the same. The companies can very likely benefit from each other’s networks and use each other’s products in their projects.
ENSTO, founded in 1958, is a family business and an international cleantech company with operations in 20 countries. Systems and products of Ensto are needed in distribution and energy efficient use of electricity. Ensto has 1,600 employees in Europe and Asia. The company’s turnover is €263 million and it has three key business units: Ensto Electrification, Ensto Lighting and Ensto Utility Networks. Also Chago, focusing on electric vehicle charging solutions and Enervent, focusing on ventilation, belong to Ensto.
Founded in 2010, ARCTEQ designs, markets, sells and produces protection relays, arc flash protection systems, measuring and monitoring equipment for electrical utility as well as traditional and renewable power generation for industrial, off-shore, marine, institutional and commercial users. Arcteq exports 97 % of its production, the most important export countries being in South America, Asia and Africa. Arcteq has 25 employees, and its turnover is €4 million.
More information: Juha Arvola, tel. 010 332 1370, firstname.lastname@example.org