Colas signs an agreement to acquire Destia, a major player in the road and rail markets in Finland
- Continued focus on external growth strategy targeted at international markets
- Opportunity to strengthen Colas’ foothold in Northern Europe and to enter the Finnish market
On August 25, 2021, Colas SA signed an agreement to acquire 100% of the shares of Destia Oy, which currently belongs to the family-owned Ahlström Capital Group.
The Destia Group is a major player in the field of road, rail and energy infrastructure in Finland. Backed by a workforce of more than 1,600 people, Destia generated revenue totaling €564 million in 2020.
The acquisition is in line with Colas' strategy to pursue international growth in targeted regions (Northern Europe, United States, Germany). The Northern European market offers solid growth prospects with significant needs for construction and maintenance of transport infrastructures.
“We are very impressed by Destia’s skills and expertise, particularly in terms of digitalization of construction sites and maintenance services in harsh weather conditions. We see the opportunity to further develop business lines such as rail and earth & rock services and Colas will bring onboard its expertise in complex projects management”, explains Francis Grass, Managing Director Colas EMEA.
“Together with the management of Destia, we have developed the company to a leading infrastructure service provider in Finland in a competitive market. The company has strengthened its capabilities in many key areas including digitalization in maintenance business. With Colas as a new industrial owner, the company is in good hands for the next phase of its growth journey, in Connecting Northern Life”, says Lasse Heinonen, President and CEO of Ahlström Capital.
The transaction is expected to close by the end of 2021 and is subject to the approval of the competition authorities.
