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Mitta Group has acquired the entire share capital of Geoelectric Oy

Geoelectric continues as an independent company and operations continue as before with a good development trend.

Published 6.3.2023

Geoelectric Mitta

Mitta has acquired the entire share capital of Geoelectric Oy on 28 February 2023. Mitta has also collaborated with the company in the past. Mats Tschivtschis will continue as Geoelectric’s CEO.

Geoelectric Oy, founded in 2008, is specialized in the manufacturing and maintenance of soil survey machines. The company is located in Sipoo, Southern Finland, and all Geoelectric machines are manufactured in Finland.

The company continues as an independent company and operations continue as before with a good development trend. The objective of the share capital acquisition is to jointly find solutions to implement sustainable, carefree and energy-efficient equipment for the customers. Geoelectric’s main markets are in Finland, Sweden and Norway.

Geoelectric Oy has a strong order backlog for 2023 as well as a robust growth behind it. The company’s net sales in 2022 were EUR 2.7 million (EUR 1 million in 2021). During the coming year, special focus will be put on growing and developing the maintenance operations of the company. Service Manager Toni Räty is in charge of maintenance.

For more information:

Aki Puska
CEO, Mitta Group Oy
+358 40 568 3490
aki.puska@mitta.fi

Mats Tschivtschis
CEO, Geoelectric Oy
+358 400 959 057
mats@geoelectric.fi

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