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PK-Puu Oy

PK-Puu continues its growth trajectory through a major acquisition

This year, the family company PK-Puu Oy celebrates its 30th anniversary as it expanded its operations by acquiring Naantalin Rakennuspuu Oy at the start of 2024. The acquisition was financed by a loan granted by OP, a Finnish bank, and supplemented by Finnvera’s SME Guarantee – the final piece of the financing puzzle that enabled PK-Puu’s acquisition and growth. Acquisitions often create new growth trajectories for companies, and this has been the case here as well – PK-Puu is already planning its next investments.
PKPuun toimitusjohtaja Petri Kaskinen.

CEO Petri Kaskinen founded PK-Puu together with his father and brother in Vehmaa, Finland, in 1994. For a long time, the company focused solely on timber, but today it manufactures not only internal and external cladding products but also a wide range of hardware products for renovators, home builders, and construction professionals alike.

Since its inception, PK-Puu has always strived for growth. Its acquisition of Naantalin Rakennuspuu Oy’s entire business in February 2024 was a natural continuation of this goal.

“At first, we also considered different collaborative possibilities, but we came to the conclusion that we wanted to remain a family business. Naantalin Rakennuspuu is owned by two people, one of whom is retiring, so the question of its ownership happened to be a topical issue,” says Petri Kaskinen.

The acquisition was boosted by its accessibility and PK-Puu’s wish to remain near the coast, as the company wants to serve the residents of the Finnish Archipelago.

“You have to look at your competitive landscape, and Naantali currently doesn’t have another hardware store. The coastal conditions here can be challenging, especially in the winter, when it’s not so busy. However, we want to hold on to our skilled staff all year round, so we’ll just have to grin and bear it, even when things get chilly. Then again, this field is always seasonal, no matter where you’re located,” notes Kaskinen.

The SME Guarantee was the final piece of the financing puzzle

After the first discussions, the acquisition process took around one year. The process included a valuation of both companies to ensure that the price and terms of the deal remained fair for both parties.

“OP was our main source of financing. When we discussed the financing of this acquisition with them, Finnvera’s SME Guarantee came up. That was the final piece of the financing puzzle that enabled this acquisition and PK-Puu’s growth.”

Kaskinen is not shy about praising the functionality of the SME Guarantee: “Our bank submitted the guarantee application, all the necessary decisions were made quickly, and the process was smooth and easy in all respects.”

PK-Puu may be in need of more financing in the future, as the location of what was formerly known as Naantalin rakennuspuu and now as PK-Puu Naantali is in an area that has no room for further expansions. The company has already reserved a plot for the construction of a new store near Route E18 in the Luolala region of Naantali. Currently, the construction of the new premises is set to begin in spring 2026.

“The new store building will be a large investment amounting to nearly EUR 3-4 million, so we’ll probably look to Finnvera for financing in the future. However, this year we’re going to focus especially on finding new retailers for our products,” says Kaskinen.

PK-Puu Oy

  • Family business, established in 1994
  • 40 employees
  • Turnover: EUR 17.2 million (2023)
  • Locations in Vehmaa, Taivassalo, Uusikaupunki, and Naantali. The company’s own planing mill and paint shop are located in Vehmaa.

SME Guarantee helps SMEs in various growth projects

Finnvera’s SME Guarantee is designed for creditworthy SMEs that have been operating for more than three years. It helps companies secure financing for various domestic business transactions, investments, and working capital and product development-related needs.

The SME Guarantee enables the efficient realisation of a company’s financing needs. The bank first assesses the business idea and the company’s probabilities of success, and then applies for Finnvera’s guarantee for its promissory note. Finnvera can guarantee a maximum of 80% of the loan and a maximum of EUR 200,000 if the company’s own securities are not sufficient.

Read more about the SME Guarantee!

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