KPY and LähiTapiola to become minority owners to speed up the growth targets of Gebwell Ltd.

Gebwell Ltd., operating in Leppävirta, Northern Savonia, Finland, provides environmentally friendly heating and cooling solutions to HVAC contractors and commercial properties. Since its 2006 founding, the company has sought to play a significant role in the energy transition toward fossil-free solutions.

The KPY Group and LähiTapiola will become minority owners of Gebwell with a combined holding of 34 percent. Gebwell will issue EUR 15 million in new shares, with KPY Momentum Ltd. subscribing two-thirds and LähiTapiola one-third. The arrangement aims to provide long-term ownership supporting Gebwell’s development and growth.

The ownership changes require approval from Gebwell’s Annual General Meeting scheduled for 29 June 2022. Janne Rahunen continues as CEO, with Arto Herranen continuing as Board Chairman. Miika Soininen, Director of Digital Services and IT at Ponsse Oyj, is proposed as KPY’s Board representative.

In 2021, Gebwell exceeded EUR 40 million in turnover and employed approximately 270 professionals across Finland, Poland, and Sweden.

Market Opportunity and Growth Potential

The parties believe heat pumps will dominate heating and cooling markets, gradually replacing fossil fuels in properties and energy utilities. Gebwell’s competitive advantages include flexibility in tailoring customer-specific solutions, advanced IoT and automation capabilities, and hybrid solutions combining geothermal and district heating technologies.

According to Kirsi Huusko, CIO at KPY: “These allow us to see the company as having significant growth potential” and noted the company’s strengths in Finnish-developed silent, vibration-free technology and lifecycle model applicability.

Gebwell seeks growth primarily in Finland and Europe, supported by global climate change mitigation needs, rising energy prices, and increased emphasis on energy self-sufficiency. The company aims to develop operations in Leppävirta, Kuopio, Poland, and Sweden while exploring new markets.

About the Organizations

KPY Group is a value-based diversified entity owned cooperatively. With nearly 140 years of operations, it invests in profitable growth companies and modern office spaces. The 2021 group turnover exceeded EUR 300 million. KPY’s 2026 vision targets becoming one of Finland’s most prestigious growth environments through its Momentum and Nova strategies.

Gebwell Ltd. designs, manufactures, and assembles heating and cooling solutions, specializing in heat pump systems and district heat distribution centers utilizing IoT technology. Beyond equipment delivery, the company offers model solutions, project support, and maintenance services to HVAC professionals.

LähiTapiola is a customer-owned insurance company providing damage, life, and pension insurance alongside investment and employee wellbeing services throughout Finland.