CANELCO BREAKS AWAY FROM TIMACO OY
The secession was implemented as internal arrangements by the owners, resulting in 100% ownership of Timaco Oy by its entrepreneurs and main owners, Jouko and Kristiina Tiainen, and their children. During the period that Canelco’s funds owned Timaco, the company tripled its turnover and number of staff, making it one of the leading contracting workshops in North Savo, Finland.
The Tiainen family and the funds managed by Canelco gained ownership of Timaco in 2008. The company works as a contracting workshop with 60 employees in Iisalmi, Finland, and offers small and medium-sized pieces with high quality and accuracy for companies in the mechanical engineering and technology sectors. The company’s turnover is around EUR 5.5 million.
“In 2008, the funds enabled succession arrangements at Timaco, and the funds have also contributed to the company’s life cycle. The current arrangements are very fitting to Timaco’s current development stage, and the company has excellent opportunities for continuing on the path of profitable growth”, summarises Mikko Kuparinen, the CEO of Canelco Capital.
“Our goal is to continue growing and providing high-quality services for the leading export companies in Finland. During the ownership by Canelco’s funds, we were able to considerably step up and increase the company’s operating capacity and ability. This is a great starting point for continuing to build the enterprise as a family company”, notes Jouko Tiainen, the company’s CEO.
Mikko Kuparinen, CEO, Canelco Capital Ltd, Tel: +358 400 606 055, e-mail: email@example.com