Uponor Infra Sells its District Energy Business to ISOPLUS

Source: www.gulfoilandgas.com 3/30/2023, Location: Europe

Uponor Corporation’s subsidiary, Uponor Infra Oy has entered into an agreement to sell its district energy business to ISOPLUS Suomi Oy, part of ISOPLUS Group, a leading manufacturer of district heating pipes in Europe. The sale agreement includes Uponor’s district energy businesses in Finland, Sweden, Estonia, and Norway as well as its district energy production located in Vaasa, Finland. The district energy business had a net sales level of approximately €40 million in 2022. The transaction will be completed on 31 March 2023. The value of the transaction is not disclosed.

“The divestment is in line with Uponor Infra’s strategy that focuses on growing its core business. While district energy is an attractive sector, it has limited synergies with the core Uponor Infra business and we are pleased that our district energy business can now develop to its full potential under ISOPLUS’ ownership,” says Sebastian Bondestam, President, Uponor Infra division.

The divested business will continue to operate under Jari Vataja who will become Managing Director of ISOPLUS Suomi Oy. He comments: “We are pleased to join the international ISOPLUS Group, for which our district energy business is a clear focus area and part of ISOPLUS’ core business. We will now be able to expand our operations and invest in future growth.”

ISOPLUS CEO Roland Hirner comments: “We are proud to be the new owner of this attractive business and welcome its great employees to ISOPLUS. We will now be able to better serve our Nordic and Estonian customer base including our own Danish sales organization. The production facility in Vaasa is an ideal complement to our existing European production footprint.”





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