Finnish power duo of site lighting and temporary power EL & Site Oy and TSR Group will merge in the summer of 2021. The companies’ operations will be merged as of 18 January 2021 by introducing the common name TSR | ELSITE and transferring the invoicing of both companies to the names of TSR Group Oy. The parent company is Legatus Oy.
EL & Site Oy is a professional in temporary lighting and power, whose MBerg luminaires have already been sold in hundreds of thousands of units in twelve different countries. Services also include the import and sale of high-quality temporary power supply cabinets from Satema, as well as comprehensive electrification and lighting design services, site-based ÄLY IoT solutions and installation.
TSR Group in Turku is a well-known player, especially in Southwest Finland. The industry and values are very similar to those of EL & Site from the Helsinki metropolitan area. Both companies teams consist of construction site professionals. TSR Group has been providing high-quality electrical and lighting accessories as well as generators and ladder products to construction companies and industrial companies for more than 12 years.
– The merger is an excellent start to 2021. Despite the exceptional year 2020, we are strong, and this change will continue to support the growth and development of our business, says Toni Raivo, CEO of the Group. Raivo will continue as the CEO of all Group companies also after the arrangement.
Together, two strong players take the market leader position in the field of site lighting
Both EL & Site and TSR Group have had a strong foothold in the construction and electrification markets. Services and products have been sold in both companies to both domestic and international customers.
The similarity of services aroused the desire to expand the supply and pursue growth together.
– By combining our business, we are able to expand our offering. At the same time, we will have a stronger foundation for growth in the international market as well, says Timo Lamberg, the founder of EL & Site.
In practice, customers will receive more comprehensive expert services and a selection of the highest quality construction equipment under one roof. The underlying investor group, Helmet Capital Oy, which largely owns Legatus Oy, has a strong belief in the success of the reorganized company.
– In addition to growth, the merger aims to improve profitability, despite the tightening market outlook. Together, EL & Site and TSR Group already have the position of the market leader in site lighting and a strong position in the field of electrification, says Sampo Ahonen of Helmet Capital.
Customer service improves – Helsinki, Turku and Tampere offer a solid foothold in the domestic and international market
With the merger, the administrative operations of the Legatus Group will be simplified, and a comprehensive offering will be brought under one operating company, TSR | ELSITE. From the customer’s point of view, in addition to the name, only the billing company will change from 18 January 2021.
– Wider selection and better availability are definitely the biggest benefits. Operations in Turku, Helsinki and Tampere continue. In the future, the company’s entire range will also be available at the Helsinki office, which will enable really fast pick-up at construction sites in the Metropolitan Helsinki area, says CEO Toni Raivo.
All EL & Site and TSR Group executives will continue in the reorganized company. Similarly, all employees of both companies will be transferred to the new group.
– The staff is excited about the reunification. Together we are stronger, Raivo rejoices.
The smoothness of transactions is ensured in a customer-oriented manner during and after the change in both companies
In practice, the change will be implemented through an intra-group merger. On January 7, 2021, the Boards of Directors of TSR Group Oy and EL & SITE OY approved the merger plan, according to which the merger of the companies will take place on June 30, 2021.
– For customers and partners, the change will initially be reflected mainly in the fact that they will be invoiced, and invoices paid by TSR | ELSITE. EL & Site’s business ID and billing information will change to TSR Group’s information, says Kati van Heerden, who has worked for EL & Site since the founding of the company.
The smooth running of transactions is ensured by old familiar professionals and customer service staff.
– At this stage, all familiar products, services, employees and telephone numbers of both EL & Site and TSR Group remain unchanged. We will then inform both our customers and our partners separately of any changes to them, van Heerden assures, and continue,
– We are excited that in the future we will be able to be an even more comprehensive partner. Once we have merged, we will be a larger player, and we will also be able to respond to price competition effectively. We will ensure that we are the ideal partner to our customers and suppliers.
The entire share capital of both companies has been acquired by Legatus Oy, the majority owner of which is an investor group represented by Helmet Capital. The shareholders are also TSR Group’s old owners Toni Raivo and Matti Mattila, key personnel Mikael Niittymäki and Jesse Pihajoki and EL & Site’s Kati van Heerden.
The combined turnover of the companies in 2019 was approximately € 9M and they employ a total of 30 people.
More information from Toni Raivo, CEO email@example.com