Deal Announcement: KPY divests Enfo's IT service business
Type of deal: Sale of shares; Minority investment
Sector: IT Service
PwC Finland’s Corporate Finance team is pleased to announce the successful divestiture of Enfo’s IT service business to Tietokeskus. PwC Finland acted as the exclusive M&A, financial, and tax advisor to Enfo’s majority shareholder Osuuskunta KPY. In line with its Momentum strategy, KPY will become a minority owner of Tietokeskus with ~10% shareholding. The merger will create Finland's largest domestic IT service company that brings together the companies' complementary services and customer segments, expanding their joint service offering.
Enfo provides essential IT services for customers' businesses and ensures the operational capability and continuity of client companies. Enfo has over 300 employees and three offices in Finland. Enfo's estimated revenue for 2024 is around 46 million euros.
Tietokeskus is a strong expert in ICT infrastructure services, offering IT services and equipment to businesses and public administration entities across Finland. Tietokeskus has approximately 500 employees and 14 offices in Finland. Tietokeskus' estimated revenue for 2024 is around 150 million euros. Tietokeskus is a portfolio company of Vaaka Partners.
Seller: Osuuskunta KPY and Enfo’s minority shareholders
Buyer: Tietokeskus Finland Oy
Date: Deal announcement on 31st October 2024
PwC’s role: Seller’s M&A and financial advisor
