Molok, a pioneer in the waste management industry in over 40 countries, finds a new home in an acquisition and joins SULO, the global waste management leader, and the SULO family of products
Molok, the original developer and pioneer of semi-underground waste solutions, is a success story that, under the ownership of private equity investor Vaaka Partners, has expanded to more than 40 countries over the past seven years and made sustainability a strategic cornerstone of the company. Now it’s time for Molok to move to the next stage of its growth. Molok is joining SULO, the global market leader in waste solutions, in an acquisition. In the transaction, SULO will acquire the entire share capital of Molok. Molok’s headquarters will remain in Nokia, Finland.
Everyone in Finland knows Molok. The company’s name has become synonymous with all partially underground waste solutions – including those made by competitors. The idea for Molok containers was born back in the early 1990s, when Veikko Salli, then a hotel and restaurant owner, was wondering how to improve the waste management in his company’s yard to make it cleaner and more hygienic.
Molok was the first in the world to develop semi-underground waste solutions, but the demand for these solutions spread and the company grew. The private equity investor Vaaka Partners became a majority shareholder in Molok in 2016. Since then, Molok has professionalized its management team, profitably sold its products in more than 40 countries, and made sustainability a strategic cornerstone of its overall strategy. In 2022, the company’s sales grew by up to 25%, with a turnover of €29 million.
“This has been a successful journey. Together, we have professionalized Molok’s operations, emphasized sustainability, and built a strong foundation for further international growth. Now is a natural phase in the company’s life cycle to move on to the next owner, whose portfolio will be stronger with Molok’s solutions and where this Finnish success story is certainly in good hands,” says Mr. Jarkko Murtoaro, lead partner at Vaaka Partners.
The acquisition will enable Molok to further expand internationally through shared expertise while also leveraging SULO’s distribution network in Europe and overseas – SULO will also reinforce its foothold in voluntary deposit notably in Northern Europe where Molok is strong
Molok’s business and mission is best described by constantly identifying customer needs and updating the product range to meet those needs. This will be even more so in the future as Molok joins the international SULO product family through this acquisition. The new owner will significantly strengthen Molok’s position in the waste solutions market.
“We see a strong mutual benefit here: Molok will now be able to further expand into new markets through SULO’s sales network, and likewise Molok will be able to offer SULO a foothold in certain markets where we are already strong, in particular the countries of Northern Europe. This will enable both customers to get a broader package from one strong player,” says Mr. Marko Penttinen, CEO of Molok.
SULO Group CEO Mr. Jean-Marie Vaissaire welcomes Molok to the SULO product family and states that Molok will become one of SULO’s leading brands.
“By joining forces today with Molok, a pioneer and international provider of semi-underground solutions highly recognizable by users, SULO confirms its willingness to grow and add solutions for its customers. Our vision, “CREATING SOLUTIONS FOR TODAY´S WASTE TO BE TOMORROW´S RESOURCE” couldn’t be better illustrated than by the innovative solutions of Molok. Molok will now become one of the major brands of SULO, continuing to grow its expertise and foothold, taking advantage of synergies of existing voluntary deposit SULO activities, as well as SULO distribution networks in Europe and overseas. We welcome today in SULO all our new colleagues and a proven management team under the leadership of Marko Penttinen,” says Mr. Jean-Marie Vaissaire, SULO Group CEO.
About Molok
Molok is a global category leader in semi-underground waste container business. Its throughout
sustainable solution has a great positive emptying handprint & collection economy. With over 30 years the company has installed over 190 000 containers to more than 45 countries. Molok Oy’s headquarters and production are located in Nokia, Finland. The company’s turnover in 2022 was approximately 30 MEUR and it employs 77 people on a permanent basis. To find out more about Molok: www.molok.com
About SULO
SULO is the European leader in pre-collection solutions for waste management. The group offers the widest range of products and services to turn waste into value, with 150 million equipment units installed worldwide. As a pioneer in the circular economy and digital solutions, SULO helps citizens, local authorities and businesses to reduce their environmental footprint. SULO has a long-standing commitment to recycling and innovation serving excellence. The group relies on strong assets with several plants located in Europe and many local operating sites throughout the world. With a team of 2,500 employees sharing strong values, SULO offers a unique combination of innovative, sustainable and tailored solutions to turn today’s waste into tomorrow’s resources. To find out more about the SULO Group: www.sulo-group.com
