QMG gets a new owner and joins the formation of a Nordic building services group

Funds advised by KLAR Partners Limited (“KLAR Partners” or “KLAR”) have signed an agreement to acquire QMG, one of Finland’s leading players in technical installation and services within electricity, heating, ventilation, sprinklers and automation. The acquisition is the next step in KLAR Partners’ ambition to create the Nordic region’s leading player in technical installation and property services.

QMG offers technical installation and services within electricity, heating, ventilation, sprinklers and automation. With around 1,000 employees in almost 30 locations, the company is one of the largest installation companies in Finland. In 2020, QMG had sales of approximately EUR 200m.

Together with Sandbäckens, an existing KLAR portfolio company, QMG will form one of the Nordic region’s leading players in technical installation and property services. The two companies, within the newly formed group, will continue to operate as separate units – Sandbäckens on the Swedish market and QMG on the Finnish market. Kimmo Liukkonen remains President of QMG and joins the Group’s management team with Mikael Matts, group President and CEO and Johan Henriksson, group CFO.

“We have followed QMG for a long time as the company fits well into KLAR’s investment strategy. With QMG and Sandbäckens, we have the market’s most skilled employees and a world-class management team. It gives us a powerful Nordic platform for continued growth”, said Fredrik Brynildsen of KLAR Partners.

“I look forward to participating in the creation of a leading Nordic player in installation and services that is based on a decentralized structure with local presence and entrepreneurship, paired with the larger company’s network and combined expertise”, said Johan Karlström, the new group’s chairman of the board.

“I am pleased to welcome QMG as a partner to Sandbäckens, and thereby establish one of the leading players in the Nordic region. The companies have a similar corporate culture and shared values. This is something we must nurture and preserve while we develop the companies’ successful and decentralized structure. Together, we can develop further through synergies and sharing of best practices, and we have the strength to accelerate our growth, both organically and through acquisitions,” said Mikael Matts, the new Group’s President and CEO.

“KLAR Partners is an owner with deep sector expertise and experience in developing companies in our industry. We also look forward to forming a significant Nordic player together with Sandbäckens, which gives us the best conditions for our continued growth journey”, said Kimmo Liukkonen, CEO of QMG.

KLAR Partners Funds’ acquisition of QMG is conditional upon customary approvals from the competition authority in Finland. 

The picture shows Mikael Matts of Sandbäckens and Kimmo Liukkonen of QMG (right).

For more information:

Fredrik Brynildsen, Partner, KLAR Partners
+44 7388 439 890

Kimmo Liukkonen, CEO, QMG
+358 50 347 8997