Ensto has acquired a majority stake in Swedish Protrol AB
Ensto expands in new smart technologies.
A Finnish technology company and family business Ensto has acquired a 70% stake in Swedish privately-owned Protrol AB (Protrol), which specializes in electric power and automation technologies. 30% of the company’s shares continue to be owned by its key personnel. The contract was signed on December 15, 2021. The acquisition is perfectly in line with Ensto’s growth strategy, and 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.
Protrol employs 7 people in Mölndal, close to Gothenburg, Sweden, and has a turnover of 4 million euros. Protrol's experts have many years of experience in fault location and fault indication technology in electricity distribution networks. Its focus areas include relay and control systems for transformers and distribution substations.
“We are extremely pleased to have Protrol’s state-of-art technology and know-how to our company. Together with its personnel we are strengthening our expertise and expanding our current product portfolio with new smart technologies to serve even better our DSO customers. Protrol’s products have achieved a very good market position especially in Sweden, and we believe that there is a demand for these smart solutions in Ensto's markets and sales channels“, says Hannu Keinänen, President and CEO of Ensto Group.
Electricity distribution and use have changed radically, and the rapidity of technological advancement brings new kinds of pressure. Electricity consumption is expected to double within the next few years as fossil fuels are being replaced by emission free electricity. The world needs more sustainable and reliable solutions for electricity distribution. Therefore, this change will increase demand of products like Protrol’s and create future growth opportunities.
“I am very proud of what we have achieved so far at Protrol. I believe that this deal with Ensto opens up great opportunities to take a new growth step and ensure our success in the future. The markets for our distribution automation and fault indication technology for electricity distribution networks are big and growing”, says Torbjörn Karlsson, Managing Director and the owner of Protrol AB.
Protrol will operate under the name Ensto Protrol AB, and Torbjörn Karlsson continues as Managing Director. The parties will not disclose the details of this transaction.
Hannu Keinänen
President and CEO, Ensto Group
Protrol in brief
Protrol AB provides distribution automation products and services to Distribution System Operators. Protrol was founded in 2002. The main office is in Mölndal, Sweden. The product portfolio is built around a patented earth fault detection technology. The main application of the products is fault passage indication in the secondary substation.