A New Infrastructure Company Emerges in Finland: Lohkare Infra Oy Enters Directly Among the Industry’s Largest Players
A major new player has entered the Finnish infrastructure construction market. Lohkare Infra Oy, founded by European investment firm Triton, has acquired three well-known companies operating in the infrastructure sector.
Lohkare Infra Oy comprises VM Suomalainen Oy, Lännen Alituspalvelu Oy and Oteran Oy. (The acquisition of Oteran Oy is subject to regulatory approval, which is expected to be completed later in 2025.)
The Group’s combined revenue is nearly EUR 200 million with an operating profit (EBIT) of approximately EUR 25 million. With these figures, Lohkare Infra immediately ranks among the largest companies in its field in Finland and qualifies for the Talouselämä Top 500 list.
Lohkare’s objective is to combine the expertise and experience of three strong and reputable companies into an agile and competitive entity. The company operates with a unique, decentralized and entrepreneur-driven management model consisting of regionally or service-wise leading companies whose business models have proven sustainable and profitable throughout market cycles.
Lohkare’s leadership team includes experienced industry professionals from the construction and infrastructure sectors with strong track records in buy-and-build strategies.
The Chairman of the Board will be Hannu Leinonen, a widely respected figure in the infrastructure sector who has served as CEO of major companies YIT and Destia, and has also been a board member at SRV.
Valtteri Palin has been appointed Chief Financial Officer. He brings extensive financial management experience from the construction industry, having held senior finance roles at Lassila & Tikanoja, SRV and Skanska.
The selection of the Group’s CEO has also been finalized and will be announced later this year.
“Finland is now seeing the emergence of an exceptionally strong new player with both the scale and flexibility to respond quickly to the evolving needs of infrastructure construction. Our goal is to build new sustainable growth together, based on reliability and efficiency,” says Chairman of the Board Hannu Leinonen.
After joining Lohkare Infra, all acquired companies will continue operating independently and under their own names. Their current owners will also become shareholders in the new Group, which Triton intends to further expand through additional acquisitions over the coming years.
Triton continues to invest actively in Nordic industry and infrastructure, aiming to build stronger companies in the market. Triton will support Lohkare Infra’s growth journey both organically and through add-on acquisitions as part of its consolidation strategy.
The establishment of Lohkare Infra Oy marks a significant step in the development of Finnish infrastructure construction and the strengthening of the sector’s competitiveness.
Further Information
Valtteri Palin, Chief Financial Officer, Lohkare Infra Oy
Tel. +358 40 734 77 49
Email: valtteri.palin@lohkare.fi
Triton
Founded in 1997 and owned by its partners, Triton is a leading European investment firm focusing on mid-market, sector-specific investments. The firm invests in companies providing mission-critical products and services in three core sectors: business services, industrial technology, and healthcare. Triton employs over 150 investment and business professionals across 11 offices in Europe.
Lohkare Infra Oy
Lohkare Infra Oy is one of the largest infrastructure construction companies in Finland, with pro forma revenue exceeding EUR 200 million and employing over 300 professionals.
Lohkare specializes in demanding infrastructure projects where delivery reliability, high quality and efficient project management are key success factors. Its extensive experience, top-tier expertise and flat organizational structure ensure decisions are made close to the customer – often directly at the worksite. This enables rapid responses, smooth cooperation and adherence to schedules.
VM Suomalainen Oy
Founded in 1980, VM Suomalainen Oy provides construction services primarily to public sector clients such as cities, municipal federations and public enterprises. Its core business consists of building transport and water infrastructure in the Helsinki and Uusimaa region. The company’s revenue in 2024 was EUR 87 million and it employs approximately 90 professionals.
Lännen Alituspalvelu Oy
Founded in 1988, Lännen Alituspalvelu Oy and its sister company Eesti Horisontaalpuur OÜ form the leading niche operator specializing in horizontal drilling. Founded and led by Pekka Vepsä, the companies operate in Finland, the Scandinavian countries, the Baltic region and wider Europe. Their combined revenue exceeded EUR 30 million (2024) and they employ 60 professionals.
Oteran Oy
Founded in 2009, Oteran Oy is an infrastructure project management company. It offers a wide range of services including bridge and road construction, municipal engineering, industrial and rail construction, water construction, and broadband and electrical network installations, delivered through a strong subcontracting network. Oteran also has a robust position in the defence sector. Its revenue was EUR 73 million (2024) and it employs over 50 people.
Maalinja Oy and EPR-Asennus Oy
Maalinja is an infrastructure construction group specializing in district heating and district cooling projects. It consists of the parent company Maalinja Oy, responsible for earthworks and street restoration, and its 90%-owned subsidiary EPR-Asennus Oy, which focuses on installation, welding and insulation work and constructs district heating and cooling networks. Together, they provide a comprehensive service offering that makes the Maalinja Group a trusted partner for major energy companies. The companies employ approximately 90 professionals, and the Group’s revenue was around EUR 24 million in 2024.