Fimpec expands its operations in Finland and Sweden with the acquisition of Byggnadsekonomi
In a transaction concluded on 31 January 2022, the project management and engineering group Fimpec purchased the entire share stock of Byggnadsekonomi Oy, a pioneer in building information modelling (BIM) and cost and scheduling management based in Espoo, and its Swedish sister company Byggnadsekonomi Ab. Byggnadsekonomi’s expertise will expand Fimpec’s current service offering, particularly in the area of construction project management.
Established in 2010, Byggnadsekonomi is a forerunner in its industry, providing building information modelling and time and cost management consultancy services. The company has a total of 15 employees, 10 of whom are based in Finland and 5 in Sweden. Byggnadsekonomi Oy has won, for instance, Tekla BIM Awards for the Easton Helsinki (2017) and OP Vallila (2014) projects.
Fimpec, seeking strong domestic and international growth, acquired the entire share capital of Byggnadsekonomi Oy and its Swedish sister company Byggnadsekonomi AB in a transaction confirmed on 31 January 2022.
With this transaction, Byggnadsekonomi and Fimpec aim to ensure opportunities for continuous development and growth for both their business operations and their employees. For the companies’ customers, the transaction will mean a wider array of services. The arrangement will strengthen Fimpec’s offering of cost management and information modelling and at the same time give Byggnadsekonomi’s customers access to comprehensive project management and engineering services from a single service provider.
Byggnadsekonomi will be merged with Fimpec PMO Oy by summer 2022, forming a new cost management unit. Byggnadsekonomi AB will become part of Fimpec AB. All current customer orders and contracts will continue normally. Johan Appelqvist will serve as the CEO of Byggnadsekonomi until the companies merge, and thereafter he will continue as the director of Fimpec’s cost management unit. The acquisition will have no other employee impacts in Finland or Sweden, and going forward, the aim is to grow the units’ head count and business.
The collaboration will bring new potential and opportunities to both companies. Byggnadsekonomi’s achievements include leading expertise in BIM, steering the largest and most challenging real estate projects in the Nordic countries, and implementing Lean methods.
“When Byggnadsekonomi was founded, we had clear goals. We wanted to show the world that technology can genuinely improve the steering and predictability of construction projects. We have now achieved those goals, and this transaction will enable us to strengthen and continue the development with new, shared targets together with Fimpec. Merging with Fimpec is a natural continuation of our company’s and our entire personnel’s development arc. With this transaction, we will expand our service offering to all areas of the construction industry globally and secure our place as a forerunner in technology use,” says Byggnadsekonomi’s CEO, Johan Appelqvist.
“It will be great to offer Fimpec’s customers Byggnadsekonomi’s solid expertise in BIM, BIM-based cost calculation and project scheduling management. The transaction is a natural reinforcement of Fimpec’s project management organisation. It allows us to offer Byggnadsekonomi’s existing customers a stronger organisation, more resources and services covering all areas of project management. Our companies share similar values in terms of how we operate, and that was an important factor in realising this transaction,” says Fimpec PMO’s CEO Mikko Turunen.
“The acquisition of Byggnadsekonomi strongly supports Fimpec’s strategic growth in terms of both services and internationalisation,” sums up Timo Hyvönen, Chairman of Fimpec Group’s Board of Directors.
For more information, please contact:
CEO, Fimpec PMO Oy
+358 40 844 7566
CEO, Byggnadsekonomi Oy and AB
+358 50 466 0907