Technobalt has acquired metal products manufacturer HeTi Pere
‘I think that in addition to personal interests as an owner, every businessman should always keep in mind also the best interests of the company. HeTi Pere was established as a family business, the development of which we have dedicated last 20 years. By now, the company is well functioning and stable. Being part of Technobalt – one of the most successful machinery and metal working groups in Estonia, gives HeTi Pere many new opportunities for future growth. I’m very glad that our views for HeTi Pere’s future match with those of Tarmo Männasalu – CEO and owner of Technobalt Group, to whom I can hand over the business with full confidence,’ says Tiit Järvekülg – founder and former shareholder of HeTi Pere.
Technobalt Group’s CEO and owner Tarmo Männasalu says that the acquisition of HeTi Pere improves Technobalt’s flexibility and capacity to meet its customers’ growing needs. ‘The company has been well managed and thanks to suitable technological base and partially overlapping customers, we hope to further improve Technobalt’s competitive position with the acquisition,’ says Männasalu.
According to Nordic CF Advisory’s partner Margo Peetsalu – financial advisor of HeTi Pere, the goal in the M&A process was to find a strategic buyer with solid background. ‘Although several Finnish metal working companies were interested in the acquisition, the best match in our opinion was still Technobalt Group,’ says Peetsalu.
With its 60 employees, HeTi Pere is one of the largest local employers in Kadrina, Estonia. The company produces machinery and metal precision details, mainly for mining and pulp and paper sector companies all over the world. The majority of HeTi Pere’s production is exported.
Technobalt Group is an Estonian capital based conveying and material handling solutions provider, mainly focusing on machinery used for mining, quarrying, recycling and loading. The group employs over 100 people and its sales and service network covers all significant regions in the Baltics.
Nordic CF Advisory is an independent Estonian investment banking company providing financial advisory services with individual approach and solutions. NCFA is focused on M&A advisory, business valuations and capital raising projects.