News. 15/04/16

Werksta signs agreement to partner with Autoklinikka

Werksta signs agreement to partner with Autoklinikka, the leading independent car collision repair chain in Finland

Guernsey / Helsinki

The owners of Autoklinikka and Werksta, the two leading independent collision repair chains in Finland and Sweden respectively, have agreed to merge operations.

Autoklinikka operates through 11 wholly-owned collision repair workshops and a network of approximately 30 franchise and cooperation partners in Finland. The company has a strong focus on customer satisfaction, quality and competitive total repair cost. In 2015, the company had a turnover of approximately 18 MEUR and completed more than 14,000 repairs.

The Group plans to continue growing through organic initiatives as well as add-on acquisitions, but will continue operating under different brands in Sweden and Finland.

Patrik Puskala, Managing Director and majority shareholder of Autoklinikka will continue working with the Group and re-invest to become a significant minority owner of the Group.

“We are excited about partnering with Autoklinikka. Patrik Puskala and his team have done an impressive job in developing Autoklinikka during the past five years and we will be able to utilize their know-how in developing our Swedish workshops”, commented Urban Magnusson, Managing Director of Werksta Group in Sweden.

“I am very excited about this new partnership and am looking forward to working together with Werksta and the Procuritas teams. The partnership will strengthen our technical capabilities and provide us valuable experience of brand authorizations. The combination will also result in more resources to support our growth ambitions. In Sweden, Werksta operates closely with brand dealers and we see this as an interesting opportunity for us also in Finland”, commented Patrik Puskala, Managing Director of Autoklinikka.

“Autoklinikka has developed to become the leader in the collision repair industry in the Nordics through its focus on efficiency and customer satisfaction. A combination of Werksta and Autoklinikka will create a strong player with capability to invest in developing the industry”, said Mattias Feiff, Partner at Procuritas Partners AB, advisor to PCI V.

Completion of the transaction is subject to approval by the competition authorities in Finland.

For further information, please contact:

Björn Lindberg, Partner, Procuritas Partners AB
tel. +468 506 143 15
Mattias Feiff, Partner, Procuritas Partners AB
tel. +468 506 143 08

Urban Magnusson, Managing Director, Werksta
tel. +46 706 75 77 50

Patrik Puskala, Managing Director, Autoklinikka,
tel. +358 50 5944 085

About Autoklinikka

Autoklinikka Group consists of collision repair chain Autoklinikka-yhtiöt Oy, car painting specialist HotPaint-yhtiöt Oy and partner network focused Autoklinikka Partner Oy. Autoklinikka repair shops serve their customers in the capital region, Tampere, Turku, Raisio, Hämeenlinna, Jyväskylä and Oulu. Autoklinikka repair shops repair over 14,000 cars a year. In 2015, the group had revenues of EUR 18m with 140 employees. Autoklinikka’s objective is to continue growing in the Nordics and to become the preferred partner to insurance companies, fleet owners and end-users in the car repair industry.

About Werksta

Werksta Group (“Werksta”) is an independent car repair chain. Since June 2015, Werksta has acquired 8 car repair workshops in Stockholm, Örebro and Norrköping. Werksta’s vision is to create a leading Nordic collision repair chain, and to become the preferred partner to insurance companies, fleet owners and end-users. Werksta is owned by private equity fund Procuritas Capital Investors V together with key management.

About Procuritas

Procuritas Capital Investors V, LP (”PCI V”) is a private equity fund focusing on mid-sized companies in the Nordic Region. PCI V is advised by Procuritas Partners AB and Procuritas Partners GmbH. Founded in 1986, Procuritas has been a pioneer in introducing the concept of MBOs in the Nordic region.

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