Karnell acquires Sähkö-Jokinen Oy

Karnell Group AB (publ), a long-term and engaged owner of leading industrial technology companies, today announced the acquisition of Sähkö-Jokinen Oy, a leading developer and manufacturer of outdoor lighting products in Finland. Sähkö-Jokinen is a second-generation family business, and the family will continue in their current roles during the transition period and collectively remain minority shareholders of Sähkö-Jokinen.

“We are pleased to welcome Sähkö-Jokinen and the Jokinen family to our group and are impressed with the company’s leading market positions and expansion opportunities in Finland and beyond,” said Petter Moldenius, CEO of Karnell. “Karnell is focused on finding Nordic industrial technology companies with market-leading positions and strong growth potential and we look forward to working together with the team at Sähkö-Jokinen to help them take advantage of the opportunities in the market.”

Founded in 1968, Sähkö-Jokinen is an outdoor lighting product specialist, best known for its safety poles and concrete bases. Lighting poles and bases are primarily used along the road, street and rail networks as well as within commercial and public outdoor areas. High-quality concrete bases for poles and masts belong to Sähkö-Jokinen’s core product offering. The company’s offering also includes safety poles, decorative poles and standard lighting poles.

Sähkö-Jokinen’s brand is well-known within its niche and the company has managed to maintain long-term relationships with its key customers. Sähkö-Jokinen is a trusted partner due to its high-quality products, high level of reliability and flexibility optimization between bases and poles. Sähkö-Jokinen generates the majority of its sales in Finland but exports its products, for example, to Sweden, the Baltics and the UK. Sähkö-Jokinen employs 25 people and the company’s head office and production are located in Noormarkku (15km North of Pori).

“We are proud to join forces with Karnell in the next phase of Sähkö-Jokinen’s journey. Our family, Jussi, Tiina, Lasse, Simo and Kalle, has been behind the steering wheel for almost forty years and we have concluded that it is the right time to pass the company on to a new committed long-term owner. The family and Karnell share a similar view of how to continue the legacy and how to cultivate the business’s future. The family will continue working with the company during 2024 in order to secure a smooth transition,” said Lasse Jokinen, CEO of Sähkö-Jokinen.

For further information please contact:

Lasse Jokinen
CEO, Sähkö-Jokinen Oy
Tel. +358 40 059 0690

Petter Moldenius
CEO, Karnell Group AB (publ)
Tel. +46 8 545 891 00

Web sites: www.karnell.se ja www.sahkojokinen.fi

Karnell Group AB (publ) is a long-term and active owner of small and medium-sized industrial technology companies. Karnell has a perpetual ownership horizon and thus provides entrepreneurs and family-owned companies with a responsible and long-term partner that continues to develop their businesses in a decentralized ownership model where decisions are made locally in the group companies, and thus closest to the end customer. Karnell currently owns 11 companies in Sweden, Finland and the UK and intends to list the group on the stock exchange.