Raksystems expands its operations in the Nordic countries by acquiring Swedish Dry-IT
Raksystems is expanding its operations to the other Nordic countries in addition to Finland by acquiring Swedish consulting firm Dry-IT, a specialist in humidity management, energy and the environment. Dry-IT has an extensive customer base in the construction and property industries. Due to their strong market position, the companies together will offer the Raksystems Group an excellent opportunity to expand and grow both in Finland and in Sweden. The Group now employs 300 people.
Raksystems Insinööritoimisto Oy, Finland’s leading property wellbeing expert company, has signed an agreement on the acquisition of reputable Swedish company Dry-IT AB. A leading company, Dry-IT offers services related to humidity management, energy and the environment. Dry-IT has been serving mainly large construction and property industry companies in Stockholm, Gothenburg, Malmö and Uppsala since 1999. The company employs 80 experts.
At the end of 2018, Raksystems made a strategic decision to start preparations aiming at internationalisation. Raksystems had been screening companies of the industry in Sweden for a long time, which created a good basis for a potential acquisition.
“Already during the first meeting, it became clear that the position of Dry-IT in Sweden is similar to the position of Raksystems in Finland. Dry-IT’s thoughts about the future, way of serving customers and doing business, as well as the company’s values, are highly similar to those of Raksystems. I see plenty of potential for a shared future. We can use the tried and tested operating methods of both companies and learn from each other. The acquisition supports our goal of becoming, in the near future, the leading expert organisation in the Nordic countries in property wellbeing, humidity management, energy efficiency and sustainability,” says Marko Malmivaara, the Managing Director of Raksystems Insinööritoimisto Oy.
Dry-IT is Sweden’s leading expert company specialising in humidity management during construction and renovations. The company has twenty years of experience from cooperation with large developers, such as Skanska, NCC, Peab and Akademiska Huset. Dry-IT is also known in Sweden as a promoter of energy efficient construction and administration, as well as a company that provides environmental certificates for large properties. Dry-IT has received several awards; it was nominated the Swedish growth company of the year, for example.
“Dry-IT and Raksystems have many shared customers that have extensive operations in the Nordic countries. We can serve them better in the future. The companies have several services that supplement each other and will support customer service and growth alike. It’s great to be able to combine the forces of two reputable expert organisations that have been operating in the industry for a long time to provide our customers even better services,” says Jan Havik, the Managing Director of Dry-IT.
In the future, Swedish customers will become a growth area for the Raksystems Group alongside the Finnish market. The companies will be developed in a manner that will make the Raksystems Group a unified Nordic group of companies. The parent company will remain in Finland, and the Swedish management – supported by the Group management and support functions – will be responsible for the operations of Dry-IT in Sweden.
The contract has been signed on the 10th of May and the closing date is the 28th of May 2019. When the acquisition is complete, the pro forma net sales of the Raksystems Group will exceed €30 million.