Fastems acquires TH-Tools group

The service and automation company Fastems Oy Ab, based in Tampere, Finland, has purchased the entire capital stock of TH-Tools group on 29 November 2010. TH-Tools group has offices in Finland in Vaasa, Lahti, Tampere, and Akaa. The sellers were the management of the company and the venture capital firm Canelco Capital Oy.

The acquisition strengthens Fastems' service business in Finland and extends Fastems' offering and makes it more local. TH-Tools has approximately 100 employees. It is a recognized tool, fixture, process, and machinery supplier for the metalworking industry. This significant know-how will be utilized in the development of Fastems' growing automation export business. With the acquired expertise, Fastems is able to provide a turnkey delivery of the manufacturing technology for an entire machine shop, and keep it running optimally.

In connection with the purchase, the part manufacturing unit of TH-Tools in Tampere, Finland has been sold on to the management of the unit.

The annual turnover of TH-Tools was approximately 7.2 million euros in 2009. The annual turnover of Fastems was approximately 61 million euros. Fastems is the leading supplier of flexible manufacturing systems (FMS) in the world. After the acquisition, Fastems has 380 employees worldwide.

The venture capital firm Canelco Capital Oy focuses on ownership arrangements of small- and medium-sized companies and it manages a capital of about 45 million euros. The company employs 6 venture capital specialists in Finland in Helsinki, Tampere, and Kuopio.

Further information:

Fastems Oy Ab
Managing Director Jarmo Hyvonen
Tel. +358 50 5685 001
www.fastems.com

TH-Tools Oy
Managing Director Jari Saaranen
Tel. +358 46 850 9396

Canelco Capital Oy
Director Pekka Hietala
Tel. +358 400 606 026
www.canelco.fi