Deal announcement: Lohkare Infra Oy acquires Maalinja Group

Type of deal: Acquisition

Sector: Infrastructure construction

The consolidation of Finland’s infrastructure construction sector continues. Lohkare Infra Oy, founded by the European investment firm Triton, has acquired the Maalinja Group.

Founded in 1994, Maalinja is an infrastructure construction company specialized in district heating and district cooling projects. The group consists of the parent company Maalinja Oy, responsible for earthworks and street restoration, and its 90%-owned subsidiary EPR-Asennus Oy, which focuses on installation, welding, and insulation work.

After these acquisitions, the combined group generates annual revenues of over EUR 200 million.

Lohkare Infra combines strong regional capabilities and operates in a market supported by long-term demand drivers, including the energy transition and infrastructure renewal across Finland.

Buyer: Lohkare Infra Oy (Triton Partners)

Seller: Maalinja Group

Deal announcement date: 10.9.2025

PwC’s role: Strategy& and PwC Finland continued to support Triton and Lohkare by providing commercial, financial and tax due diligence services also in relation to this most recent acquisition of Maalinja Group.

Press release