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24 Oct 2023

MCF advised an investor group represented by Evolver Investment Group on the sale of Firecon to Writech

An investor group represented by Evolver Investment Group, has sold Firecon Group to Writech Group, a portfolio company of Waterland Private Equity. Firecon Group is a market-leading Finnish full-service provider of automated fire extinguishing systems and HVAC solutions and services.

MCF advised an investor group represented by Evolver Investment Group throughout the process and facilitated the transaction through its proven ability to run and coordinate cross-border M&A projects successfully.

"MCF has proven to be an invaluable partner in guiding us through the process of divesting Firecon Group Ltd. Their unwavering commitment, extensive global connections, and exceptional transaction knowledge played a pivotal role in achieving a favourable result."

Johan Porko

Partner at Evolver

The Target

Firecon Group is a market-leading full-service provider of automated fire extinguishing systems in Finland. The Group consists of two operative companies, Firecon and LVI-Xpert, with Firecon focusing on turnkey fire extinguishing projects for industrial clients and LVI-Xpert on HVAC services for residential and non-residential customers. The group’s turnover in 2022 was EUR 18m and it employs around 70 people.

About Evolver

Evolver is a Finnish private equity investor specialising in Nordic small-cap and lower mid-market buyouts. Evolver’s mission is to help owner-led companies realise their potential in a sustainable way by providing expertise, tools and capital. Since 2009, Evolver has completed more than 40 corporate transactions. Typical investment situations are accelerated growth, internationalisation, and industry consolidation.

Evolver is a registered alternative investment fund manager under the supervision of the Finnish Financial Supervisory Authority and a member of the Finnish Venture Capital Association. The investors in Evolver Fund I are leading Finnish institutional investors.

About Writech Group

Writech Group is an Ireland-based company that designs, manufactures, installs and maintains water-based fire protection and detection systems. Its strategy is to create a pan-European expert organisation focused on the supply and maintenance of extinguishing equipment. The company has a revenue of over EUR 100m with businesses in Ireland, UK and Sweden. Writech Group is majority-owned by Waterland, a pan-European private equity firm.