Triton creates new leading decentralised infrastructure services platform in Finland
Helsinki (Finland), 30 June 2025 – The Triton Smaller Mid Cap Fund II advised by Triton (“Triton”) announces the formation of Lohkare Infra (“the company”), a leading Finnish infrastructure services platform, through the acquisition and merger of three regional companies into one decentralised national group. The new group works across Finland, has an annual turnover of nearly EUR 200 million, has EBIT of ca. EUR 25 million, employs ca. 200 people, and immediately ranks among the largest companies in the industry. Terms of the transactions are not disclosed.
Lohkare Infra was formed through the acquisition and merger of three leading local Finnish companies – VM Suomalainen Oy, Lännen Alituspalvelu Oy, and Oteran Oy. The new group provides a full range of essential services for supporting local infrastructure projects, including planning, construction, maintenance, and engineering services. It supports both private and public sector clients in new build and renovation projects within areas such as streets and roads; water works; bridges; electricity networks and more.
Triton intends to support Lohkare Infra in consolidating the large and fragmented Finnish infrastructure services market. The Finnish market is highly stable and backed by long-term positive megatrends, including urbanisation and the ongoing energy transition. The company will benefit from Triton’s expertise in the infrastructure services sub-sector (from past investments in e.g. Eleda, OCU Group, EQOS, Infratek) and decentralised services platforms with proven buy-and-build capabilities (e.g. Habeo, Assemblin Caverion Group, Bravida).
Per Frankling, Investment Advisory Professional at Triton, said: “Lohkare Infra provides a broad suite of essential services for Finnish infrastructure, helping to deliver important projects for local communities. The Group is already at significant scale, and we look forward to working with its entrepreneurial teams to build on this already impressive platform.”
Hannu Leinonen, Chairman of the Board of Lohkare Infra, said: “Finland is now home to an exceptionally strong new player with both scale and flexibility to meet the evolving needs of infrastructure construction. Our goal is to build sustainable growth based on reliability and efficiency.”
Triton Smaller Mid-Cap Fund II successfully closed above its fundraising target on €815 million in 2021. The fund applies Triton’s proven investment strategy to lower mid-market companies in the same core sectors of Business Services, Industrial Tech, and Healthcare. It uses Triton’s in-house operational capabilities and resources to help management teams build leaders in the lower-mid market.
The acquisition of Oteran Oy is subject to regulatory approvals, which are expected later in 2025.
About Triton
Founded in 1997 and owned by its partners, Triton is a leading European mid-market sector-specialist investor. Triton focuses on investing in businesses that provide mission critical goods and services in its three core sectors of Business Services, Industrial Tech, and Healthcare.
Triton has over 150 investment professionals and value creation experts across 11 offices and invests through three complementary “All Weather” strategies: Mid-Market Private Equity, Smaller Mid-Cap Private Equity, and Opportunistic Credit.
