Prevas completed the acquisition of Enmac on July 1, 2024, and strengthening its market presence in the Nordic region
Through the acquisition, Prevas establishes a Nordic group with 1,100 employees and operations in Sweden, Norway, Denmark, and Finland. The acquisition enhances the group's ability to deliver innovative solutions and services focused on product, process, and production development, as well as helping customers to take greater advantage of today’s technological development.
On April 23, 2024, Prevas announced that they had signed an agreement to acquire approximately 92 percent of the shares in the Finnish company NMAC Group Oy, the parent company of the Enmac Group ("Enmac"). Enmac had a turnover of 23 million euros in 2023 with an EBITDA margin of 14 percent. The company has about 200 employees and operates in 8 locations in Finland. After receiving regulatory approval, the acquisition was completed on July 1, 2024, and our exciting joint journey has just begun.
"Together, Enmac and Prevas offer premium services throughout the Nordic region," says Magnus Welén, CEO of Prevas AB. "I am truly looking forward to now welcoming Enmac and all its employees into the Prevas family."
Enmac specializes in advanced process and production development. Known for its strong technical expertise and commitment to quality, Enmac offers tailored solutions that drive efficiency and innovation across a variety of industries. The company prides itself on its collaborative culture and continuous improvement capabilities, creating an environment where creativity and expertise can flourish. Enmac's strategic approach and strong customer relationships make them a leading player in the Finnish market and a strong international competitor.
"The merger with Prevas is optimal for Enmac and opens up opportunities for growth and a larger presence in the Nordic region," says Juha Ritala, CEO of Enmac.
Enmac has extensive experience in identifying and executing successful acquisitions, and Prevas' ambition is for the new Finnish platform to continue driving both organic and acquisition-based growth in the Finnish market.
"Our Finnish colleagues bring expert knowledge in advanced process and production development and have an impressive customer list," continues Magnus. "Enmac's culture is very similar to Prevas and reflects an open atmosphere with team players working in a decentralized, business-driven, and high-tech organization. When I enter Enmac's office, it feels like coming home!"
Prevas, together with Enmac, offers a comprehensive range of services and solutions tailored to meet the ever-changing needs of modern industries. With a focus on innovation, technology and expertise, we help companies optimize and streamline their operations, improve productivity and achieve sustainability. In close cooperation with our customers, we contribute to solving major societal challenges and we constantly see new opportunities in our dynamic world.
For more information about the acquisition, see also the press release from April 23, 2024 and the regulatory approval published on June 19, 2024.