Finnish robotics company Flexmill acquired Mirka

Finnish robotics company Flexmill acquired Mirka

Typical applications include propellers, turbines, foundry products, and welded and machined structures. Flexmill offers programming and tooling solutions for the surface treatment of even complex workpieces, including small-scale production. The acquisition is a key part of Mirka’s strategy to expand its range in robotics.

“We welcome Flexmill to the Mirka Group and are really excited about the new expertise we now have at Mirka. Flexmill’s special expertise in robotics and automation, as well as Mirka’s expertise in surface finishing and the global market, open up many new opportunities. ” says Mirka’s CEO Stefan Sjöberg.

The automation and robotization of labor-intensive and repetitive work steps in manufacturing, such as grinding, polishing and surface treatment, is a natural development and a strong trend. But the automation of craftsmanship and complex processes is a challenge where work must also be inspected and verified during the work process with measurement systems that also effectively replace the user’s eyes, controls, and judgment.

“Mirka has recently launched a whole family of electric grinding tools for robotic grinding applications and can now also offer complete solutions and integration services for automated and robotic surface treatment. Stefan Sjöberg continues.

Flexmill was founded in 2017 after exiting JOT Automation, whose investor and principal owner is the private equity company Verso Capital. The strong investment in product development and the construction of the new spin-off Verso Capital laid a strong foundation for rapid growth.

“It was important for Verso Capital to find a strategic buyer that could take the unique and world-leading robotics expertise to a new level. In Mirka, we see a perfect match and we are happy to play our part in the excellent robotics of Finnish industry. Marko JärvinenVerso Capital’s partner says.

Mirka Oy is the world’s leading manufacturer of surface treatment technology and offers a wide range of groundbreaking solutions for the surface treatment and precision industry. Thanks to high-quality grinding and polishing products as well as innovative tools, digital services and connectivity, the Mirka solution offers customers real benefits in terms of speed, efficiency, surface quality and cost-effectiveness. In 2021, net sales were EUR 354 million and the number of employees was approximately 1,500. Mirka has eighteen subsidiaries in Europe, the Middle East, North and South America and Asia. Headquartered in Finland, production in Finland, Belgium and Italy.

Carner and the EC advised Mirka on the deal

About Flexmill

Flexmill is an expert in automated and robotic surface treatment applications, employing about twenty robotics engineers and programmers. Flexmill has delivered hundreds of systems to more than 70 customers in twenty countries. The robotics business was originally founded in 1994 and was finally spun off from JOT automation to Flexmill in 2017. Typical applications in robotics are the aerospace, automotive, marine and energy industries.

Flexmill is located in Nurmijärvi

About Verso Capital

Verso Capital is a growth buyout investor specializing in carve-out situations and complex business situations. They buy and invest in European B2B companies and companies with good growth potential and a turnover of up to € 50 million, but which are currently suffering from growth bottlenecks. The Verso Capitals team has experience in over 100 carve-out and M&A transactions. Verso is typically a majority investor and spends a significant portion of its time working with management to address growth and profitability bottlenecks. They manage three private equity funds of more than EUR 160 million and have offices in Helsinki, Stockholm and Munich.

Aalto Capital and Avance Attorneys will advise Verso Capital in the transaction.

Source: Mirka Oy

Source: The Nordic Page

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