Investments made

Inspecta - SFS-Certification

Inspecta Ltd. leads the field in the provision of versatile testing, inspection and certification services in the Nordic countries. The company’s operational area covers Finland, Sweden, Estonia and Latvia and its client base is broad, with its central customer segments including the energy and process sectors, the property sector, the construction and manufacturing industries, and the infrastructure and service sectors.

MB Funds purchased Inspecta from the Finnish state in 2002, after public tender proceedings. In connection with this, SFS Sertifiointi (SFS Certification Ltd.) was merged with Inspecta, and its owners became minority owners of Inspecta. At the time, Inspecta’s turnover was around €18 million. The implementation of a growth strategy was initiated in the new product and market segments, with company purchases being an important part of the growth strategy right from the outset.

Under the ownership of MB Funds, Inspecta acquired nearly 20 new companies. An important internationalisation process began in 2005, with the purchase of the Latvian company, JSC IBNA, in April, followed by the December acquisition of the Swedish inspection operations of Det Norske Veritas. The acquisition in Sweden more than doubled Inspecta’s turnover.

In 2007, after successful add-on acquisitions and having achieved a sound profitability level, Inspecta had more than 1,000 employees and a turnover exceeding €110 million. Furthermore, the company’s prospects for additional growth were favourable, as was participation in the consolidation process ongoing in the sector.

In the summer of 2007, Inspecta was sold by MB Funds and its other owners to the private equity investor, 3i.