Taratest Oy, a market leader in geotechnical and environmental services, has acquired 60 percent of the shares in Palsatech Oy. Palsatech’s key personnel will continue as significant minority shareholders. As a result of the transaction, a group focused on geotechnical, geological and environmental services is formed, operating broadly across construction, infrastructure, mining and mineral exploration sectors. Palsatech’s current management team will remain in place, and the transaction will have no impact on customer contracts, personnel or day-to-day operations.
Taratest Oy is a Finnish expert company in geotechnical and environmental services, providing high-quality geotechnical, environmental, rock and ground investigation services and solutions for the needs of construction, mining and other industrial sectors across the Nordic countries.
Palsatech Oy is a Finnish provider of geo-services, offering high-quality geological and geotechnical services and products for the mineral exploration and mining industry in Finland and internationally.
“The transaction supports the growth strategies of both companies, expands and diversifies the service offering, and strengthens growth both domestically and internationally. Palsatech’s specialisation in geological and technical expert services for mining and mineral exploration, combined with Taratest’s strong expertise in infrastructure projects, complement each other well,” says Janne Siikaluoma, CEO of Palsatech Oy.
According to Siikaluoma, together the companies are able to provide more comprehensive solutions particularly for mineral exploration studies, demanding ground and environmental investigations, mining and infrastructure projects, as well as projects related to nuclear waste disposal:
“Expanding Palsatech’s service concept is one of the most important elements in executing our future vision. Through this development, our service offering will be further broadened, enabling us to serve mineral exploration and mining clients more extensively while also growing Palsatech’s operations beyond these sectors both in Finland and internationally,” Siikaluoma continues.
Taratest’s entry as a majority owner supports Palsatech’s controlled growth and geographical expansion from Northern Finland towards southern regions and international markets. At the same time, Taratest strengthens its position in Northern Finland. As a result of the transaction, the service offerings of both Taratest and Palsatech are strengthened without any changes to customers’ daily operations.
“The acquisition of Palsatech supports Taratest’s long-term growth strategy in mining-related services as well as our geographical expansion into Northern Finland and Sweden. By combining our complementary expertise, we can offer more versatile solutions to our clients. Palsatech’s extensive resources and expertise also support the growth and development of Taratest’s engineering geological rock investigation services. Palsatech is an excellent company whose services have been uniquely developed to meet the needs of the mining industry, and I look forward to working closely with their professionals,” says Tero Mäkinen, CEO of Taratest Oy.
Both companies already operate in Sweden, and the collaboration also supports expansion into new markets in Europe and North America. Palsatech Oy and the company’s former minority shareholder, Oy Kati Ab, will continue their cooperation on the same sites as before.
For more information:
Tero Mäkinen
CEO, Taratest Oy
+358 40 562 8693
tero.makinen@taratest.fi
Janne Siikaluoma
CEO, Palsatech Oy
+358 40 7077 503
janne.siikaluoma@palsatech.fi