MB Funds invests in Protacon

5.7.2017 News

A leading engineering company, Protacon, accelerates its growth through a 4 July 2017 signed transaction, in which MB Funds purchases a majority stake in the company. Protacon’s key management will remain as significant shareholders in the company.

Protacon, founded in 1990, is a Finnish engineering company specializing in industrial automation, software and digitalization services. Protacon’s customers include companies operating in pulp & paper, energy and maritime industries. The company has 10 offices in Finland and one in China. In 2016, Protacon reached €21 million in revenue. Currently, the company has 270 automation and digitalisation professionals.

”Protacon has grown rapidly during the past few years driven by the increased demand in industrial digitalization and automation services. Combining forces with MB Funds provides us with even greater capabilities to speed up our growth strategy. As an active and established Finnish private equity investor, MB Funds brings along considerable strategic skills and knowledge to take Protacon to the next level”, states Timo Akselin, Chairman of the Board at Protacon Group Oy.

”Protacon is a spectacular company with highly skillful and experienced personnel at its core. The company’s service offering covers several industries and its customer relationships are long-term. One of the key success factors is their ability to combine digitalisation and strong technological know-how. They are able to provide unique solutions to their customers”, comments Juha Tukiainen, Managing Partner at MB Funds.

Further information

Timo Akselin
Chairman of the Board, Protacon Group Oy
+358 500 636 203
timo.akselin@protacon.com
Juha Tukiainen
Managing Partner, MB Funds
+358 400 791 679
juha.tukiainen@mb.fi

MB Funds, founded in 1988, is a leading Finnish private equity investor with prime Finnish institutions as its fund investors. MB is currently seeking investee companies to its fifth buyout fund, while total assets under management stand at 0.5 billion euro. Primary investment focus is on established and growing mid-market companies mainly in Finland and the Nordics. www.mb.fi