Ensto has acquired a majority stake in Arcteq Relays Oy
A Finnish technology company and family business Ensto Oy (Ensto) has acquired a 55% stake in addition to its previous 20% stake in Finnish, privately owned Arcteq Relays Oy (Arcteq). 25% of the company’s shares continue to belong to its current owners.
The contract was signed on December 20, 2021.
Juha Arvola continues as Managing Director of Arcteq Relays Oy. Arcteq Relays operates with its current name and sells its products with Arcteq’s brand. Daily operations and cooperation with customers and partners continue as usual in both companies.
“Ensto has been on board with us as a co-owner since 2016, and this move is a natural step in our long-term business plan. The strategies of the companies are a perfect fit without any overlapping product offering. Ensto is a well-known Finnish family business with a world-class brand on the market of electrical systems and supplies. We are very pleased to join our forces with such a big industrial company, and we believe that with this combination we are able to serve our customers even better and grow faster”, says Juha Arvola, Managing Director and one of the owners of Arcteq.
“I am very happy to welcome Arcteq’s great know-how and technology of protection relays, and expertise of protection architecture of medium-voltage distribution networks to our company. Together with its personnel we are strengthening our expertise and expanding our current product portfolio into new smart technologies to support our growth towards an intelligent and digitalizing world “, says Hannu Keinänen, President and CEO of Ensto Group.
Ensto in brief
For over 60 years, Ensto, a growth-oriented and international family business, has been dedicated to electricity with a long-term and human-centric approach. We offer smart and reliable electrical solutions and expertise for electricity distribution system operators and help them to succeed and create a more sustainable tomorrow.
Currently Ensto has a total of 850 employees in 17 countries in Europe and Asia. We are bound by our common purpose: making life better with electricity. Sustainably.
www.ensto.com
Arcteq in brief
Arcteq Relays Oy is a privately held, employee-owned company focused on the manufacture of protection relays and arc flash protection systems, with the development history of 25+ years. Arcteq has its state-of-the-art new headquarters and manufacturing in Vaasa, Finland. Arcteq operates in approximately 50 countries worldwide and has references worldwide in the Americas, Europe, Africa, the Middle East and Asia.
www.arcteq.com
