We advised Fenestra in the acquisition of Kuopion Rakennuskonttori (KRK), a company that sells and installs windows in Finland. Fenestra manufactures timber clad aluminium windows and balcony doors. As a result of the acquisition Fenestra will expand their business across the whole of Finland, leading to ambitious development plans for the coming years.
Significant benefits for customers
“Speed and flexibility are essential in sales. I am convinced that our long-term experience, professionalism and our portfolio of significant customers will add value to Fenestra,” said the CEO of KRK, Aki Keinänen, who will now become the sales manager for Fenestra in the Finnish market.
According to the Chairman of the Board of Fenestra, Riho Prass, the transaction will benefit all of Fenestra’s customers, as creating a common unit for managing manufacturing and the service network will improve the synergy of the whole company. “We see the acquisition as providing great potential to grow our market position in Finland and we hope to implement the experience and knowledge of Aki’s team in our growth strategy across the group,” said Prass.
Long-term cooperation
Fenestra and KRK have cooperated in the window market for six years, mostly specialising in large projects in Eastern and Central Finland. Last year KRK’s turnover was 5.4 million Euros. Following the transaction, the KRK team will continue working in the Fenestra group.
The turnover for Fenestra in 2019 was 18.8 million Euros. The company employs more than 170 people in Estonia, Finland and Sweden. The majority shareholder of Fenestra is the Baltic private capital fund Livonia Partners.
Our services and project team
We advised Fenestra in all the main stages of the transaction, including performing legal due diligence. Our project team included partner Paul Künnap, of counsel Isabella Barbara Aavik and associate Kirsi Johanna Koistinen.
