Raksystems’ fourth acquisition in 2019: HVAC design specialist Tubular Oy
Finland’s largest condition evaluation and indoor air company has boosted its HVAC design expertise by acquiring Tubular Oy. The acquisition was completed on 6 September 2019. Tubular is known in the Helsinki metropolitan region for its housing construction HVAC technology design and consulting services. The acquisition adds four new experts to the Raksystems planning and development unit of some eighty people.
After the acquisition, which is the fourth one realised in 2019, pro forma net sales of the Raksystems Group will exceed €37 million in 2019, and the Group will employ 350 people. The Group is aiming for net sales of more than €100 million by 2023. Tubular will continue as Raksystems’ subsidiary after the acquisition.
“The acquisition boosts the investments Raksystems Insinööritoimisto Oy has made in the past few years to become a larger and more attractive service provider that serves large properties throughout their lifecycle. The Tubular acquisition is a natural continuum to the acquisition of Insinööritoimisto R J Heiskanen Oy in 2017 and HSSR this summer. Tubular’s history of thirty years – which is incidentally the same time Raksystems has been in operation – as well as its experienced experts and extensive loyal clientele excellently supplement the growth of Raksystems’ design services”, says Marko Malmivaara, the Managing Director of Raksystems Insinööritoimisto Oy.
Tubular Oy will continue its operations as part of Raksystems. Relationships with its current customers will not change. Marko Malmivaara, the Managing Director of Raksystems, will also become Tubular’s Managing Director.
“It has been interesting to watch the growth of the Raksystems design organisation, and we are glad that we are able to offer a much needed boost to the organisation with our HVAC design expertise to benefit customers of the entire Group. Meanwhile, we can guarantee a good service level for our current customers: as a large company, we can offer versatile services”, says Kimmo Linturi, the Managing Director of Tubular Oy.