Flexmill’s clients include major companies in the international aerospace, marine, and energy sectors.
A new high-tech growth company was founded in Finland when one of JOT Automation’s business units was carved out from the company through a business transfer. The business unit’s core team also transferred to the new company, Flexmill.
The Finnish private equity company VersoVentures is Flexmill’s the majority owner. JOT Automation remains with Flexmill as the minority owner.
Flexmill is an international growth company, serving some of the world’s largest aerospace, marine, and energy companies. The company combines robotics and machine vision with sensor and software technology in mechanical engineering and automates critical production phases. In the aerospace industry, for example, surface finishes for components require great precision. At the same time, employees must be protected from harmful work phases and substances.
The business unit operated as part of JOT Automation for ten years before the business transfer. The transaction supports JOT Automation’s strategy.
– “Flexmill has considerable net sales potential. Order books in the aircraft industry are full for years to come, which is good for engine manufacturers. The company also has potential to expand into the power plant industry and the marine industry,” says Marko Järvinen, Partner at VersoVentures.
According to Järvinen, VersoVentures provides Flexmill with expertise in international sales and marketing.
– “Flexmill is clearly ahead of the competition. Other companies can’t combine automation, software and tool technology as effectively as Flexmill does. We help our clients make their production processes significantly more efficient,” says Järvinen.
Headquartered in Nurmijärvi in Finland, Flexmill has a sales office in Singapore, one of the most important global hubs for the aircraft industry.
– “It’s great to have the opportunity to continue this growth story. We have long time customer relationships in international markets, and now Flexmill will be able to play a major role as a provider of automation solutions,” says Petri Kosonen, CEO of Flexmill.
Established in 2012, VersoVentures is a Finnish private equity company specialising in business operations that are carved out from larger companies. VersoVentures also invests in technology growth companies. It has invested in 12 companies, two of which have been resold. VersoVentures has two funds, with a total of EUR 60 million in equity.
Petri Kosonen, CEO, Flexmill,
tel. +358 40 0320 755, firstname.lastname@example.org
Marko Järvinen, Partner, VersoVentures,
tel. +358 40 5539 588, email@example.com