Intera to boost growth and internationalization of HögforsGST improving energy efficiency in properties
With support from Intera, HögforsGST answers the demand for heating and cooling solutions created by the energy transition by accelerating the company’s growth, development of solutions and internationalization.
The Finnish private equity investor Intera joins HögforsGST as new partner and shareholder in the Finnish company offering smart heating and cooling solutions. Other shareholders will continue as shareholders and employees in the company.
The cooperation brings new opportunities to serve property owners and the evolving energy sector in their future needs and will also further accelerate the development of HögforsGST’s own competences and technical solutions.
“Heating and cooling are one of the greatest expenditures related to properties. The rising energy prices will increasingly add to the need to keep living costs under control. Meanwhile, we also need new solutions to combat climate change. For decades, we have developed solutions to reduce energy losses and are deeply pleased to join forces with our new partner Intera to step up our growth and product development,” says Antti Hartman, CEO of HögforsGST.
The product development efforts enabled by Intera will focus on hybrid solutions improving the energy efficiency of properties as well as on smart solutions enhancing the energy conservation within the whole heating system. In addition, HögforsGST aims to gain a stronger foothold in the international markets, which already account for most of the company’s revenue.
”Solutions related to energy conservation are more topical than perhaps ever before. We are impressed by HögforsGST’s team’s expertise and capability to develop modern and innovative products to serve both properties and the whole heating system. HögforsGST helps to bring costs down as well as build a more sustainable world—this is a combination of aspirations we are happy to support,” states Tuomas Sarkola, partner in Intera.
The arrangement has no effect on HögforsGST’s current customer agreements or personnel.
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partner, Intera Partners
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Energy efficient HybridHEAT solutions will be the focal point of HögforsGST's product development efforts
HögforsGST is a Finnish company that specialises in the manufacture, sale and marketing of high-quality heating and cooling systems. We are the leading supplier of heat substations in the Nordic countries, and our modern Fiksu- and HybridHEAT -heating solutions reduce both emissions and costs caused by heating. We manufacture all our products in our factory, which is located in Leppävirta along with our company headquarters. We have a comprehensive sales network throughout Finland and subsidiaries in Sweden and Norway. HögforsGST employs 140 people and has an annual turnover of approximately EUR 30 million, which largely consists of exports.
Intera is a Finnish private equity firm with a focus on growth and internationalization. Intera manages three active funds with a total capital of EUR 785 million. The funds are invested in a total of 10 portfolio companies with a combined revenue of EUR 900 million and 11,000 employees.