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Nevel poised to take industrial and municipal utility infrastructure to next level with Ardian

November 2, 2020
  • Press releases and news

Upon establishing Nevel, an international company operating in Finland, Sweden and Estonia one year ago, the plan was to answer the market need for advanced industrial and municipal infrastructure solutions. Now Nevel is looking to the future with a new owner, Ardian, who will support Nevel´s drive for growth, and commitment to long-term cooperation with customers.

On November 2nd Nevel´s parent company, Vapo Group, has announced the sale of Nevel to Ardian, a French private investment company. The plan is to complete the transaction after customary competition filings and to transfer Nevel to new ownership.

Ardian sees good opportunities in developing and expanding Nevel business further in Finland, Sweden and Estonia. “Nevel is a perfect fit to our strategy for sustainable energy in the Nordics. Nevel’s business is based on developing infrastructure solutions for municipalities, buildings and industry. Our goals are aligned with Nevel and we believe our investment further accelerates Nevel’s business development”, says Simo Santavirta, Senior Managing Director of Ardian Infrastructure.

“We intend to grow the company, invest and employ more people. We will invest more to enhance the efficiency and environmental friendliness of the production plants and district heating networks of Nevel. The planning commences once the deal is closed. The magnitude of the investment program is over ten million euros. We also intend to recruit many experts to Nevel in Finland and Sweden”, says Eero Auranne, Chairman of Enordic, Ardian’s sustainable energy investment platform in the Nordic countries.

“Nevel is here to build advanced industrial and municipal infrastructure solutions for the benefit of our customers and the surrounding societies. Together with Ardian we will continue our path towards this goal,” says Markus Hassinen, CEO at Nevel. “We want to facilitate industrial and municipal cooperation and ensure that the cooperation brings value for customers, environment and society. In the midst of all these changes, we want to ensure good customer cooperation and security of supply,” Hassinen concludes.

For more information contact:

Markus Hassinen, +358 40 159 0314, Nevel CEO
Hanna Viita, +358 40 1671755, Nevel marketing and communications

About Nevel

Nevel is an advanced infrastructure company, committed to taking its customer’s utility infrastructure to the next level. The company operates more than 130 energy production sites and manages over 40 district heating networks with the most sophisticated digital platform in the industry. Nevel employs 130 experts in Finland, Sweden and Estonia. The company’s turnover is EUR 100 million. Nevel is wholly owned by Vapo Group.