The merged company seeks a leap in growth from a revenue of approximately 20 million euros. It will be a strong player in the public, financial, industry, security, and retail sectors.
Private Equity firm Voland Partners will finance the merger between the two IT specialists, Consultor Finland Oy, and Profit Consulting Oy.
Founded in 2004, Consultor Finland has been a pioneer in the development of partner network-based IT consulting. Consultor provides experts from its broad network of partners for the IT reforms of large Finnish companies. The company also employs 28 in-house specialists in Helsinki, Kotka, and Rovaniemi.
Founded in 2007, Profit Consulting has established a strong position as an IT specialist. The company’s successful strategy has been based on recruiting the most seasoned experts in the IT field. Profit Consulting currently employs 53 workers in Espoo. Both companies have grown to an annual turnover of around 10 million euros.
The newly merged company will be able to offer more extensive and challenging projects, combining the flexibility of a partner network, IT project management and procurement services, and exceptionally comprehensive and deep technical IT expertise.
The company aims to grow its revenue from 20 million to 50 million in 3 to 4 years.
“Profit Consulting and Consultor are both well-managed companies. Both are known for ensuring the success of their clients’ demanding IT projects. The merger creates a new leading player in Finland,” analyzes Jyrki Laune, Founding Partner of Voland Partners.
Markus Andersson, the current CEO of Consultor Finland Oy, has been appointed the new company’s CEO.
“Both companies have refined themselves into high-level specialists over their 20 years of operation. We complement each other not only in business but also thanks to our different customer segments. We can now leverage the best aspects of both companies,” says Andersson.
“We recruit the best experts to solve our client’s toughest problems with the right methods. This has been our promise since the beginning. Fulfilling it requires experienced professionals, who are always in high demand. The growth resulting from this merger would be challenging to achieve organically,” says Hannu Vähäsaari, Founding Partner and Deputy CEO of Profit Consulting Oy.
The merger of Consultor Finland and Profit Consulting addresses a typical challenge for Finnish technology companies, where growing from revenue of 5-10 million euros to 20-50 million turns out difficult.
A company needs new experts to grow but to attract the highest-quality talent; it must also be able to deliver increasingly challenging and comprehensive projects to significant clients. The company must be big enough to win over the largest projects. When the number of employees is only a few dozen, opportunities often fall through due to the risk management practices of large companies.
“Even if there is strong personal trust in experts like us inside big corporations, it is safer for them to choose a larger provider for the job. This way, a potential failure is more acceptable from a risk management perspective,” Vähäsaari explains.
Consultor Finland has also faced the same bottleneck for growth.
“For a network-based operator like Consultor, the threshold to the largest corporate projects has been quite high. The growth in our staff numbers has helped with this in recent years. We will have completely different opportunities to showcase our expertise with almost 100 experts,” Andersson says.
Consultor Finland and Profit Consulting have earned the trust of major clients through quality and have established long-term relationships.
“We have a long list of client stories about how crisis projects are saved with the right methods, enabling the client to achieve up to tenfold productivity in their IT development and reduce the number of external consultants by half thanks to quality improvement,” says Vähäsaari.
The new company’s name will be announced later this year.
For more information:
Markus Andersson
CEO, Consultor Finland Oy
markus.andersson@consultor.fi
+358 40 754 4601
Hannu Vähäsaari
Deputy CEO, Founder, Profit Consulting Oy
hannu.vahasaari@profitconsulting.fi
+358 400 381 985
Jyrki Laune
Founding Partner, Voland Partners
jyrki.laune@voland.fi
+358 40 743 2391
