Vapo Oy and Keravan Energia Oy have agreed a sale of district heating business in Karkkila to Vapo. The district heating plants generate about 30.000 MWh for around 100 properties. The district heating network includes a 7MW district heating plant burning wood and peat as major fuels and a backup district heating plant using fossil fuels.
Vapo’s strategy is to bring value to their customers by being the world’s leading expert on the local energy value chain. The acquisition follows the company’s target to increase its heat business area.
Keravan Energia divests the district heating business in Karkkila on a basis of a challenging geographical location, which do not support emergence of synergies with the core areas. With the acquisition Keravan Energia strengthens its focus on core business areas of Kerava and Sipoo.
No employees were transferred as part of the acquisition and the ownership changed on March 6, 2015. The value is not disclosed.
Point Capital acted as financial advisor to Keravan Energia advising in transaction structure, negotiations, valuation, coordination of other advisors and in the preparation of required materials.