Ensto has acquired a majority stake in Finnish, privately owned Maviko Oy specializing in electricity distribution services and smart secondary substations. The contract was signed on June 29, 2023. The acquisition is perfectly in line with Ensto’s growth strategy, and it follows the acquisitions made in 2021 focusing on the electricity distribution business. It is a significant step in implementing Ensto’s vision to become a leading expert for Distribution Systems Operators (DSOs). It strengthens Ensto's position as a supplier and expert of new smart technologies for electricity distribution networks.
Maviko employs 25 people, and has its headquarters and manufacturing in Vaasa, Finland. It has a turnover of ca 11 million euros. Maviko's experts have a strong know-how in energy infrastructure, earth fault current compensation in electricity distribution networks, and substation contracting with an operating history of 17 years.
“I am very happy to welcome Maviko’s dedicated personnel and great know-how and technology to our company. Through Maviko, we gain expertise in the needs of DSOs, requirements of the electricity distribution network, and specifically in the design, protection, and reliability of compensated distribution networks. This enables us to better understand the daily challenges and needs of DSOs, allowing us to deliver customized solutions and drive future product and solution development," says Markku Moilanen, President and CEO of Ensto Group.
Maviko’s main market is Finland, and its customers are mainly Finnish electricity production and distribution companies. Maviko has expertise and hands on understanding of general electricity distribution network architecture and its protection, and the implementation of key substation projects. In addition, it has special technical competence in building turnkey solutions related to earth fault and reactive power compensation.
“We are very pleased to join our forces with Ensto, whose active and consistent strategy to focus on the electricity distribution perfectly aligns with Maviko's business objectives. With Ensto's international markets, sales force, and support functions, we are able to accelerate our growth and international expansion, especially in nearby countries. By combining our expertise and products, we can deliver more comprehensive offerings to our customers," says Kimmo Autio, Managing Director and one of the owners of Maviko.
Kimmo Autio continues as Managing Director of the company. The company name will be changed to Ensto Maviko Oy, and its products and services will be sold under the Ensto brand.
Ensto’s strategic decision to focus on the electricity distribution business and the divestment of Ensto Building Systems have allowed us to grow in the DSO business. The Maviko transaction is a continuation to the acquisitions of Renley Ltd from Ireland, Röhrbacher Technic GmbH in Austria, Protrol AB in Sweden, and Arcteq Relays Ltd in Finland.
Markku Moilanen
President and CEO, Ensto Group
Maviko in brief
Maviko Oy is a Finnish, privately owned innovative solutions and services provider for electricity generation and distribution companies. Our main services relate to primary substation contracting, including construction of entirely new substations, and overhauling existing ones. We also provide earth fault current and reactive power compensation solutions; both in centralized and distributed configurations. Our own products include smart compact secondary substations and equipment shelters, which are produced at our Vaasa production plant. Our goal is to provide high quality comprehensive turnkey solutions that take into account customer needs.
Maviko has its headquarters and production in Vaasa, Finland. It employs 25 people and generates a turnover of ca €11 M.