Sitowise divests its companies in Norway and Poland
Sitowise divested its Norwegian subsidiary Sitowise Norge AS and its holding in its associated company in Poland due to its decision to focus operations on the Swedish market.
“Thanks to the acquisition of Byggnadstekniska Byrån Sverige AB, Sitowise made strong inroads into Sweden – it showed us that we have good opportunities to grow and consolidate our position in that country. Focusing our efforts more heavily on Sweden gives us new reinforcements and more momentum in our drive to conquer this market,” says Juha Korteniemi, Vice President, International Operations.
The Norwegian company, which specialises in project management and construction contracting, had been part of Sitowise since 2016. The company currently has eight employees. It will continue to operate in Norway and its new owners have a clear vision for how to develop its operations. The new owners, HAB Invest AS, Stensrud & Partner AS and Bastia Eiendom AS, comprise a group specialising in property development and construction contracting.
In Poland, Sitowise was a minority shareholder in a software company operating in Bygdoszcz and Gdynia. In this divestment, ownership of the company was transferred to its CEO, Grzerogz Hawrot, and two other employees. Sitowise will continue its good cooperation with the Poles – the divested company will continue to serve as a Sitowise subcontractor.
Pekka Eloholma and Juha Korteniemi