Steel service company Feon acquires AluSteel – “The acquisition brightens up the Finnish steel business”

PRESS RELEASE 4.5.2020 EET 10:15 Helsinki

Finnish steel service company Feon has acquired AluSteel, a company based in Uusikaupunki, Finland. Feon aims to position itself as one of the biggest steel service companies in Finland. CEO Petri Kalliokoski states that the acquisition brightens up the Finnish steel product wholesale business that has struggled with oversupply and a gloomy economic outlook during the coronavirus crisis.

Feon Ltd, a subsidiary of Onvest Ltd, has acquired Uusikaupunki-based AluSteel Ltd. The deal was closed on April 30th. The combined revenue of both companies is estimated to reach over 100 million euros.

AluSteel specializes in the business of custom cut metals. Feon is the leading producer of structural steel in Finland. Petri Kalliokoski, the CEO of Feon, states that the goal of the transaction is to position Feon as one of the leading steel service companies in Finland. According to Kalliokoski, the products and services of AluSteel compliment Feon´s current strengths and expertise.

“We make a perfect, complimentary match. By combining our strengths we are able to provide a broad range of products and services to our current customers in machine and equipment manufacturing – as well as in all phases of metal and steel construction. It is our ambition to ensure that our customers can acquire all the steel products they need without compromising convenience or reliability”, Kalliokoski claims.

Steel wholesale business goes digital

According to Kalliokoski, the digital revolution has begun to transform the steel industry at a growing speed since last year. E-commerce hasn’t been as commonly utilized in the steel industry as in many others. The coronavirus crisis is changing the ways in which business is conducted.

“The industry has been quite stable during recent years but suddenly all of our sales operations have gone remote. It’s vital that our customers can purchase the steel products needed in a digital, efficient and a convenient way. Feon has been the forerunner of e-commerce in the Finnish steel business. Now we can see the work we have done the past few years truly is paying off”, Kalliokoski says.

The Finnish steel industry has recently struggled with global competition and oversupply.

“The Finnish steel industry needs a structural transformation. This acquisition brightens up the entire industry as we improve the competitiveness of domestic customers by offering our products in a reliable and efficient manner. We will be able to bring also new alternatives to the market.”

Growth strategy to continue

For AluSteel the acquisition secures long-term opportunities.

“We are delighted by the steady ownership that Feon and its Finnish owner, the family company Onvest, can offer us. We have been given a significant opportunity to develop our business and a chance to enable a broader sales network”, claims CEO of AluSteel, Pekka Putro.

Petri Kalliokoski, the CEO of Feon, says that new acquisitions will be possible in the future.

“The acquisition of AluSteel is the first step in our strategic journey”, Kalliokoski states.

The deal was closed on April 30th and the transaction has been effective as of May 1st 2020.

AluSteel and its staff continue to work as a subsidiary to Feon.

For more information:
Petri Kalliokoski, CEO
petri.kalliokoski@feon.fi
+358401354950

OpusCapita’s e-invoice operator ID will change in Finland

Please note that the e-invoice operator ID for Feon Oy has changed.

Please update valid e-invoicing information accordingly:

VAT: FI27330384

E-invoice address: 003727330384

Operator ID: E204503

Operator: OpusCapita Solutions Oy

Due to the reorganization, OpusCapita’s B2B e-invoice operator ID will change in Finland. As of June 1, 2018, OpusCapita Solutions Oy will have a new e-invoice operator ID E204503. Old operator ID is valid until 31.12.2018.

Old operator ID: 003710948874

Old operator name: OpusCapita Group Oy

This does not affect other billing information.

Onvest Oy demerged on April 30th, 2018 – the two founded companies are Conficap Oy and Onvest Oy

In the fall of 2017, the owners of the family owned company Onvest Oy decided to demerge the company’s business into two separate companies. The demerge was completed on April 30th, 2018.

The new company founded and owned by Maarit Toivanen and her children is called Conficap Oy. The new company owned by Marja Toivanen and Maria Toivanen-Warras is called Onvest Oy. The former Onvest Oy was dissolved in the arrangement.

Conficap’s business consists of Are Group, the investment business and a part of the current real estate business. The company also received significant liquid assets. Managing Director of Conficap Oy is Timo Alamiekkaoja.

Onvest’s business consists of real estate business, Feon Oy and significant investment operations. During the establishment phase, Head of Real Estate Investments Hanna Ekdahl is responsible for the operations and the management of the new Onvest.

Conficap Oy and the new Onvest Oy will continue their business as independent companies.

Onvest’s 100-year-old history as a family company has had many remarkable events and turning points. The most important factor is the ability to adapt to the changing business environment. This transaction has created two strong companies with solid balance sheets, significant liquid assets, committed management and longterm strategies that create a strong platform for successful business development.

For more information, please contact:

Timo Alamiekkaoja, Managing Director, Conficap Oy

E-mail: timo.alamiekkaoja@conficap.com, Tel. +358 10 400 6440

Hanna Ekdahl, Head of Real Estate Investments, Onvest Oy

E-mail: hanna.ekdahl@onvest.fi, Tel. +358 20 111 5103

Arja Talma, Chair of the Board, Onvest Oy

E-mail: arja.talma@gmail.com, Tel. +358 50 669 40

Onvest Oy will be divided into two new companies

Onvest Oy’s owners have agreed on transactional arrangement where Onvest Oy is going to demerge into two new companies to be founded. After the arrangement is completed Maarit Toivanen-Koivisto with her children will own one of the companies to be founded and Marja Toivanen and Maria Toivanen-Warras will own the other company to be founded. The existing Onvest Oy will be dissolved. The target is to complete the arrangement by June 30th, 2018.

The owners of Onvest Oy have had a long-term commitment to secure the continuity of the successful business. The arrangement will create two strong companies. The new companies will have assets that enable long-term and well-planned development of the operations as well as possible expansion of the business according to the risk profiles and expected return set by the companies.

The new company to be founded and owned by Maarit Toivanen-Koivisto and her children will be called Conficap Oy. Conficap’s business will consist of Are Group, Onvest Sijoitus Oy and real estate investment business. The real estate investment business will include Onvest Oy’s foreign real estate investments as well as shareholdings in domestic and foreign real estate development projects to start with. Managing director of Conficap Oy will be Timo Alamiekkaoja. Conficap’s head office will be located in the existing Onvest Oy’s premises, address: Ratatie 11 B, 01300 Vantaa, Finland.

The new company to be founded and owned by Marja Toivanen and her daughter Maria Toivanen-Warras will be called Onvest Oy. The new Onvest Oy will consist of Feon Oy and most of Onvest Oy’s direct domestic real estate ownerships in Finland. During the establishment phase Hanna Ekdahl is responsible for the operations and the management of the new Onvest. In the future she will continue as the head of real estate investments of the new Onvest Oy. The head office of the new Onvest Oy will be located at Teollisuuskatu 33, 00510 Helsinki, Finland. Feon Oy’s headquarters are located at the same address.

Conficap Oy and the new Onvest Oy will continue their business as independent companies based on values and experience of a Finnish family company. The business of both companies will be guided by commitment, renewal and controlled risk taking.

During the demerger process the Onvest Group’s business units continue their daily operations normally. Onvest Oy’s board of directors and managing director continue in the lead of the company until the demerger is completed. The target is to complete the arrangement by June 30th, 2018.

Onvest Oy’s over 100-year-old history as a family company has many remarkable events and turning points. The ongoing arrangement is a unique opportunity where Onvest Oy’s owners are committed to develop the new companies to become competitive, reliable and responsible family driven businesses in Finland.

For further information:
Timo Alamiekkaoja, managing director, Onvest Oy
email: timo.alamiekkaoja@onvest.fi, tel. +358 10 400 6440

 

Onvest Oy press release

Feon information letter for suppliers

Onninen’s Steel business is transferred to a new company Feon Ltd as of May 1st 2016

Dear Supplier,

As disclosed in our press release on 12 January 2016, Onvest is selling its subsidiary Onninen to Kesko. Onninen’s steel business is not included in the acquisition. Steel business continues as Feon Ltd, an independent subsidiary to Onvest. Feon Ltd headquarter is also moving to new premises.

All changes will be effective as of May 1st 2016

There will be no changes to the operations of our steel business or the service center in Hattula. All the familiar buyers, sales staff and contact persons will remain at your service to address needs related to devices, steel-, and metal construction.

A business transfer break in the steel business 29.4.-2.5.2016

Due to the business transfer, there is a break in the steel business between 29.4.-2.5.2016 and our operations are closed. During this break we are not able to receive or deliver any goods. After this period our operations will continue normally.

Open steel orders as of 29.4.

All open steel business purchase orders as of 29.4. are transferred from Onninen Oy to Feon Ltd. Goods are delivered to Feon Ltd after 29.4. and invoicing is directed to Feon Ltd. New purchase orders will be sent to suppliers from Feon Ltd in the end of April as soon as the new ERP-system is in use.

To ensure good relationship and smooth co-operation after the business transfer we would appreciate the following actions from your side:

  • Please inform your credit department of the new company Feon Ltd
  • Please open new Feon Ltd company (Business ID 2733038-4) to your system
  • Please confirm new customer number by 15th of April

For further information, please contact:

Martti Kalliala, Sourcing Director
Mobile +358 40 503 2070
martti.kalliala@feon.fi

 

Kind regards,

Petri Kalliokoski
Managing Director
Feon Ltd

Onninen’s Steel business is transferred to a new company Feon Ltd as of May 1st 2016

Dear Customer,

As disclosed in our press release on 12 January 2016, Onvest is selling its subsidiary Onninen to Kesko. Onninen’s steel business is not included in the acquisition. Steel business continues as Feon Ltd, an independent subsidiary to Onvest. Feon Ltd headquarter is also moving to new premises.

All changes will be effective as of May 1st 2016

There will be no changes to the operations of our steel business or the service center in Hattula. All the familiar buyers, sales staff and contact persons will remain at your service to address needs related to devices, steel-, and metal construction.

A business transfer break in the steel business 29.4.-2.5.2016

Due to the business transfer, there is a break in the steel business between 29.4.-2.5.2016 and our operations are closed. During this break we are not able to receive or deliver any goods. After this period our operations will continue normally.

Open steel orders as of 29.4.

All open orders as of 29.4. are transferred from Onninen Oy to Feon Ltd. Goods are delivered to customers after 29.4. and invoices are sent by Feon Ltd. Customers will also receive new order confirmations from Feon Ltd.

For further information, please contact:

Sami Aro
Business Manager, General Engineering
+358 40 163 2150
sami.aro@feon.fi

Mika Kortelainen
Business Manager, Metal Construction
+358 40 483 5473
mika.kortelainen@feon.fi

Juha Kangasaho
Business Manager, Steel Construction
+358 400 202 137
juha.kangasaho@feon.fi

Kind regards,

Petri Kalliokoski
Managing Director
Feon Ltd

X