Cibes Finland Acquires RH Tekniikka OY
Finland’s fastest growing lift company, Cibes Hissit Oy, acquires 100% of lift company RH Tekniikka. The new acquisition strengthens Cibes’ position in retrofit and turn-key lift projects on the Finnish market and increases the company’s geographical coverage.
Earlier this year, Cibes Hissit OY and Amslift OY announced a full merger, which will make Cibes one of the leading lift companies in Finland.
“Between Cibes and Amslift, we have a unique expertise in lifts for existing buildings, especially old apartment buildings. With the acquisition of RH Tekniikka, we will strengthen our market position in retrofit and turn-key lift projects, which include everything from lift design and building permits to building preparations and finishing touches. This is a very big market in Finland, given that more than 90 000 Finns live in apartment buildings with more than 3 floors, but no lift”, says Juha Kiviranta, Managing Director of Cibes Hissit and Amslift.
The acquisition of RH Tekniikka includes a 30% stake in Muurame based lift manufacturer Nopra OY, specialising in hydraulic lifts. Cibes and Amslift already have offices in Turku, Hyvinkää, Vaasa and Outokumpu, and with the acquisition, now also in Helsinki and Muurame.
“This investment improves our geographical coverage and will enable us to provide even better customer services throughout the country. We are currently Finland’s fastest growing lift company and we intend to keep growing”, Juha Kiviranta concludes.
Juha Kiviranta is appointed Managing Director of RH Tekniikka and the current MD, Reijo Liimatainen, assumes the role of Unit Manager. All 12 employees of RH Tekniikka will stay on in their current positions. Once the merger of Cibes Hissit and Amslift is complete and the acquisition of RH Tekniikka finalised, Cibes Finland will employ more than 40 people.