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Our subsidiary Syklo Oy strengthens its national role – the acquisition of Finland Energy Aggregate Oy accelerates sustainable growth

22.01.2024 / Last updated 30.01.2024 07:03

Suomen Energiamurske Oy’s circular economy cluster, located in Hyvinkää, got a new owner in January when Syklo Oy acquired its entire share capital from Riob Oy.

Circular economy company Syklo completed the acquisition of Suomen Energiamurske Oy on January 9, 2024. The newly formed circular economy cluster by Suomen Energiamurske will continue its operations as a subsidiary of Syklo Oy under the leadership of Teemu Koskela, the Managing Director of Syklo. During the transition period, Suomen Energiamurske's Managing Director, Heikki Sinkkonen, will continue to contribute to the company under a commission agreement, ensuring seamless customer service and the integration of diverse practices into Syklo’s operations. The financial details of the acquisition have not been disclosed.

Teemu Koskela, the Managing Director of Syklo, states, "Our objective is to expand into a national and international circular economy partner, reshaping the circular economy market. Through Suomen Energiamurske, we gain a robust growth platform in southern Finland, enabling us to implement new industrial investments in circular economy innovations and services. Syklo aims to foster a transition from the current unsustainable consumption of raw materials to a truly circular economy, creating a better world sustainably and profitably."

With this acquisition, Syklo Oy, a key player in Northern Finland's circular economy sector, takes a significant stride toward its goal of establishing a nationwide presence and expanding its service offerings. The company's business model focuses on achieving an increasingly higher degree of circular economy in crucial ecosystems, closing the cycles of construction materials, and creating new products from biomass waste streams. The Hyvinkää circular economy cluster offers Syklo the opportunity to implement investments in line with its growth strategy for transforming the circular economy.

Suomen Energiamurske is involved in leasing facilities and functions suitable for the circular economy, receiving construction and demolition waste, and selling energy fractions. The company's property, spanning five-and-a-half hectares, holds an environmental permit for processing 100,000 tonnes of waste annually, with a total building stock of around 6,400 square meters. Heikki Sinkkonen has overseen the development of top-notch facilities and conducive conditions for versatile circular economy operations in the area.

Heikki Sinkkonen, Riob's Managing Director, comments, "Syklo’s growth and development plans for Suomen Energiamurske assured us that we’re going to a responsible home. I have worked for a long time to grow the operation of the circular economy cluster into what it is today. However, now is the time to take on a heavier load and for further development of our operations under Syklo’s leadership. Our employees and customers are definitely in good hands."

As the new owner, Syklo warmly welcomes the employees of Suomen Energiamurske and pledges to be a responsible and fair employer. Existing lease agreements in the area will continue unchanged with current partners. Aligned with its growth strategy, Syklo is dedicated to further developing and expanding its operations in the region, collaborating with existing and new partners, and subsequently, expanding its workforce.

Teemu Koskela adds, "It’s great that Heikki Sinkkonen and his team have been able to establish significant cooperation relationships with several circular economy companies. We want to strengthen and develop these cooperation relationships because no one can manage on their own in a circular economy. Together, we can succeed in providing solutions to world-class problems."