Finnish Energiameklarit Oy and Norwegian Markedskraft AS will in May join forces. The merger gives the company a powerful position in Scandinavia.
The parties have agreed on a transaction where Energiameklarit Oy transfers all its business operations including operations of EM Finance to Markedskraft AS. Markedskraft, who already provides customers in the Nordic power market, now strengthens significantly its local presence in Finland.
Uniting all Finnish operations
- We will unite all Finnish operations, both Energiameklarit and Markedskraft, in a new branch of Markedskraft in Finland headed by Markedskraft employee Markku Vaitomaa, informs Jon Ove Heen, acting CEO at Markedskraft AS.
Also the name Energiameklarit is transferred, and the operations will continue as usual – now with all existing services and added with connected services from Markedskraft.
Takes place in May
The transfer of the business operations takes place during May 2018. All the customers and employees of Energiameklarit Oy and EM Finance Oy will be transferred to Markedskraft as part of this agreement.
All services will continue as today. In addition, we will now have the opportunity to add services from Markedskraft. This can include ancillary services and 24/7 services – giving the customer the possibility of adding value of their flexibilities. And this could include more extensive analysis services.
Energiameklarit have during a period focused on developing their services for the Finnish market.
- By this merger with one of the larger independent service providers in the Nordics we see the transaction as a perfect opportunity to secure and further develop the services to the company´s customers. In addition, with this solution new services based on Markedskraft competences can be offered including ancillary services, 24/7-services and market analysis services, informs Timo Virikko, the Chairman of the Board of the selling company Energiameklarit Oy.
Leading independent power-service provider
Markedskraft is a leading independent service supplier in the Nordic power market and with this arrangement Markedskraft now strengthens significantly its local presence in Finland.
- For Markedskraft the opportunity to buy the Energiameklarit business was very interesting. We aim to grow in Finland and this is a good fundament for us to increase our activity there, says Jon Ove Heen, CEO in Markedskraft.
Both Markedskraft and Energiameklarit offer portfolio management services to electricity suppliers, power producers and large industries. The market approach and the service philosophy of the companies are similar and the merger thus offers synergies and a possibility to take advantage of both companies´ extensive market experience and strengths.
Satisfied with the agreement
- Energiameklarit has from the start in 1995 contributed to focus on the Finnish power market’s attention on competition, transparency and customer advisory. Markedskraft has a corresponding position in the Nordic market and a solid experience. Now it’s the right time to lift this to the next level. We are satisfied with this agreement with Markedskraft AS. They are, in our opinion, the best partner to secure and further develop the business of our customers in the future, says Timo Virikko, the Chairman of the Board of the selling company Energiameklarit Oy.
- Everybody in Markedskraft is looking forward to have new colleagues and customers in Finland. We will do our best to ensure that Markedskraft will provide existing and new customers in Finland with state-of-the-art services both today and in the future, adds Jon Ove Heen, acting CEO at Markedskraft.
Take a new position
The Chairman of the Board at Markedskraft AS, Morten Henriksen, is also a representative of the large majority owner of the company, Arendals Fossekompani ASA (AFK). He adds that AFK is very satisfied with this solution which shows that Markedskraft is offensive and ready to take a new position in the rapidly changing power markets.
More information / contacts:
- Timo Virikko, Energiameklarit Oy +358 40 844 5047
- Jon Ove Heen, Markedskraft AS +47 996 41 366
- Markku Vaitomaa, Markedskraft AS +358 50 453 4275
About Energiameklarit and EM Finance Energiameklarit Oy was established by a group of Finnish energy utilities in 1995, when the market was liberalized, to offer portfolio management services in the Nordic Power Market. Later on, its services have been expanded to cover even Emission and GoO Markets. The subsidiaryEM Finance was established in 2008 when MiFiD legislation came into force. Energiameklarit is owned by nine Finnish energy companies and has seven employees working in the offices in Kankaanpää and Kerava.
About Markedskraft Markedskraft is a knowledge specialist in the European power market. Having pioneered the market since 1992, we offer deep insights and understanding of the power industry. We define ourselves as a specialized knowledge company, covering risk- and portfolio management services. Our mission is to create customer value by understanding the fundamental drivers of the power market, thereby providing our customers with unique basis for critical decision-making. We pride ourselves in being the only independent service provider who can assist throughout the entire value chain including advisory services, risk management, financial portfolio management and physical handling and settlement.