Acquisition of SRV Infra Oy

Kreate Group Plc’s subsidiary Kreate Oy has today on 31 December 2025 completed the acquisition of the entire share capital of SRV Infra Oy. The transaction received approval from the competition authorities in November, and the completion of the transaction was carried out at the end of December as previously announced at an enterprise value of approximately EUR 30 million. The acquired company’s business consists primarily of underground rock construction and, to a lesser extent, foundation and special foundation construction. In 2024, the company’s revenue was EUR 52 million and operating profit EUR 2.6 million.

“I am pleased that the transaction was completed as planned, and that we can start 2026 with more than one hundred new Kreate employees and begin operations in a new, highly demanding construction discipline,” says Timo Vikström, President and CEO of the Kreate Group.

“The business, expertise and references gained through the acquisition complement Kreate’s offering and competence profile in an excellent way. Underground rock construction is a completely new construction area for Kreate in Finland and will thus bring us an entirely new business. As a result of the acquisition, we will gain a strong position in the underground rock construction market, for which the outlook for the coming years is strengthened by security, preparedness and security of supply considerations related to the geopolitical situation. The foundation and special foundation construction market is also supported by strong megatrends such as urbanisation and investments required by the green transition,” says Timo Vikström, President and CEO of the Kreate Group.

“We make acquisitions very selectively. In this case, the personnel and competence, business and equipment of the company to be acquired were such that we immediately saw how well they fit with Kreate’s strategy. We focus selectively on infrastructure construction requiring high expertise with sharp competence strengths. We are pleased to welcome new professionals – one of our strategic goals is to be the best place for the best infrastructure experts, and I believe that the new professionals will enjoy being part of our yellow-and-black team. Our employee turnover is very low, and our personnel value Kreate as an employer, as evidenced by the exceptionally high willingness to recommend the company. The latest eNPS of the Finnish company is 70,” Vikström continues.

In connection with the transaction, Kreate Oy and SRV Group Plc have entered into a long-term framework agreement concerning rock, foundation and concrete construction works related to building construction, as well as other infrastructure construction. The framework agreement covers all types of projects.

“The order backlog and significant customer relationships transferred in connection with the transaction, as well as the long-term framework agreement concluded with SRV, provide continuity and visibility going forward. The mutually beneficial framework agreement covers a wide range of project types in major public construction projects, private sector projects and SRV’s own projects. Both parties will bring their specific expertise to the projects, allowing us to work together as an even stronger, more versatile and more competitive operator,” Vikström notes.

SRV Infra Oy, operating in Finland, had revenue of EUR 52.2 million (32.5) and an operating profit of EUR 2.6 million (0.4) in 2024. The balance sheet total as at 31 December 2024 was EUR 19.9 million (12.7). The company employed 106 people at the end of September 2025.

The purchase price is estimated at EUR 30 million and will be paid in full in cash upon completion of the transaction, at which time the shares of SRV Infra Oy will transfer to Kreate Oy’s ownership. The final purchase price will be subject to customary adjustments for net debt and net working capital at the time of completion. The acquisition will be financed with a new EUR 15 million bank loan as well as the company’s cash reserves and, if necessary, available credit limits. In addition to the new EUR 15 million bank loan, the company has increased its revolving credit facilities by EUR 5 million, bringing the total committed credit limits in use to EUR 25 million.

The transaction has no impact on Kreate Group’s financial guidance for 2025. After completion, the acquired company will be included in Kreate Group’s Finnish bridge construction business. Kreate reports all its operations as part of the infrastructure construction segment, which is the company’s only reporting segment. Kreate will publish its 2025 financial statements release on 6 February 2026, in connection with which the company will also provide its revenue and earnings guidance for 2026.