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Elomatic sells shareholding in Caligo Industria to Addtech in Sweden


Elomatic has sold its 51 percent shareholding in Turku and Jyväskylä-based cleantech company Caligo Industria to Swedish technology trading group Addtech Nordic AB. Caligo Industria’s private shareholders Juha Järvenreuna, Mika Nummila and Ari-Matti Mattila have also sold their shareholdings to Addtech and Caligo Industria has become a fully owned (100%) subsidiary of Addtech. The acquisition will allow the stronger future development of Caligo Industria and support its broader internationalisation.

Caligo Industria was founded in 2013 and is focused on energy efficiency solutions. The company’s main products are heat recovery condensers that recover heat from flue gasses released by power plants. In its core products, the company utilises heat pump solutions integrated with the condensers, which increase heat recovery manifold. Caligo’s turnover in 2019 was over 6 MEUR in 2019 and it currently has eight employees.

“Caligo has become a great success story built on the innovation that was created in Elomatic in 2012. Addtech will provide Caligo with a solid foundation for its next growth phase,” says Elomatic Chairman of the Board, Olli Manner.

Addtech’s about 130 independent companies sell high-tech products and solutions to customers chiefly in the manufacturing and infrastructure sectors. The acquisition will allow Caligo to grow quickly and promote broader internationalisation.

“Caligo is in excellent shape. I believe that as part of the Addtech network we can become an even stronger operator both locally and internationally,” says Caligo Industria CEO Juha Järvenreuna.

Caligo will explore future grown possibilities in new international markets by networking with Addtech’s subsidiaries and international operators in other business areas.

“Caligo will very effectively complement Addtech Industrial Process’ current operations,” says Claus Nielsen, Business Area Manager, Addtech Industrial Process.