Onvest takes a majority stake in Puurakentajat and strengthens the company’s growth potential

Puurakentajat Oy, Press release 23.1.2023 at 11:00am EET

Family business Onvest Oy (“Onvest”) has increased its minority holding in Puurakentajat Group Oy (“Puurakentajat”), the Finnish expert in solid wood construction, and has become main shareholder of the company as founder Jyrki Huttunen has sold his majority stake to Onvest. As part of the transaction Mikke Ruuhonen, who has acted as Chairman of the Board, has also sold his shares in the company to Onvest. Tesi’s (Suomen Teollisuussijoitus) and CEO Mikko Leino’s holdings in the company remain unchanged. Jyrki Huttunen continues in an operational role following completion of the transaction. 

In the autumn 2021, Onvest became an active industrial owner of Puurakentajat by acquiring a 27.91 per cent stake in the company. At the same time Tesi made a 14.29 per cent investment in the company. With the new owners, Puurakentajat started to develop the rapidly growing business to a new level. The new ownership structure announced today further supports Puurakentajat's strategy implementation and abilities to grow, both organically and through acquisitions.

"Consumers are increasingly looking for ecological and healthy forms of living. At the same time, environmental requirements set by the authorities are tightening and favoring Puurakentajat. Solid wood construction is experiencing solid demand. With the new ownership structure, we are better placed to meet this demand and successfully implement our strategy. Our new main owner's commitment to Finnish wood construction and our shared values are particularly important to us. It is with great enthusiasm that we now continue construction of solid wood buildings, developing the industry, and growing the business towards the leading Nordic group in solid wood technology and construction", said Mikko Leino, CEO of Puurakentajat.

"Onvest has today announced its increased holding in Puurakentajat Oy and the acquisition of 100 percent of Teijo-Talot Oy. Through these acquisitions our intention is to take a significant position in solid wood construction. Onvest Oy is a responsible and long-term owner. Our ambition is to build new flagships of the Finnish industry, create jobs and build successful internationalisation stories. Our growth is driven by the family company's passion for building sustainable Finnish success stories. The goals and values of Puurakentajat align perfectly with the strategy and values of Onvest. We want to support construction that enables clean indoor climate and healthy living conditions for future generations. Puurakentajat is a forerunner in this field," said Maria Toivanen, Chairman of the Board of Onvest Oy.

“Our core values have always been an important part of what we do and our competence. Professionalism and quality are important aspects of everything we do. Equally, it is important that we are perceived as a trustworthy partner. We care about the world in which we operate. As the company grows and its priorities evolve, these changes are also reflected in our daily operations, strategy, leadership and ownership structure. I am pleased to see the transfer of the main ownership of Puurakentajat to a competent and responsible industrial owner, who strengthens our abilities to meet the strong demand in solid wood construction. We share the same core values, which remain unchanged and continue to serve us as the backbone of our company,” said Jyrki Huttunen, founder of Puurakentajat.

Environmental concerns and global warming create strong demand for environmentally friendly new construction. Ecological building materials and carbon neutrality during the life cycle of buildings are important growth drivers. In order to achieve carbon neutrality by 2035, the Finnish Ministry of the Environment has defined that at least 45 per cent of all new public construction should be wood construction by 2025. 60 per cent of municipalities in Finland have defined wood construction as a strategic goal in the next few years.

As a result of the transaction, the composition of Puurakentajat's Board of Directors will change. The composition of the new permanent board will be confirmed later. 

More information:
Puurakentajat Group Oy, CEO Mikko Leino
Tel. +358 40 551 4055
mikko.leino[at]puurakentajat.fi 

Onvest Oy, hpj Maria Toivanen
Tel. 040 534 5217
maria.toivanen[at]onvest.fi 

Puurakentajat Group Oy is a Finnish group specializing in wood technology and construction with decades of experience in solid wood construction and renovation. We design, produce and build ecologically sustainable and healthy single-family houses, apartment blocks, schools and day-care centres, among others. The use of solid wood elements enables new architectural solutions and enhances construction, both economically and from the viewpoint of the environment and health. We construct solid wood buildings where people feel good. www.puurakentajat.fi

Onvest Oy is a Finnish responsible family business aiming to develop Finnish industrial, real estate and, through investment operations, other businesses. The company was founded in 1913 by Alfred Onninen as plumbing contractor A. Onninen. Turnover of the Onvest Group is today about EUR 270 million. www.onvest.fi

Puurakentajat appointed contractor for the Katajanokka Laituri construction project in Helsinki

Puurakentajat Oy, Press release 22.12.2022 at [9:30am] EET

Puurakentajat Group Oy (Puurakentajat Rakennus Oy), the Finnish expert in solid wood construction,

has been appointed contractor for the Katajanokka Laituri construction project in Helsinki. The aim of the commercial building is to be both carbon neutral and a masterpiece of Finnish wood construction. The developer of the project is Varma Mutual Pension Insurance Company. The building will be completed in 2024 and it will serve as Stora Enso's headquarters, as a hotel of the S Group, and as a public meeting place in one of central Helsinki's finest marine locations, Katajanokka.

For Puurakentajat, installation of the wood frame starts in early 2023. The building is expected to open for the public in the summer of 2024. On-site construction work began in 2021 with the demolition of the old warehouse building and ground work. Haahtela is the main contractor with responsibility for project management. Puurakentajat will supply and install the wood frame of the building.

The four-storey building will have a roof terrace and recreational area as well as technical facilities and parking in the basement. The building will have 7,500 square meters of office and commercial space and 160 hotel rooms. The above-ground frame of the building will be mainly of wood, with some complementary parts made of steel. The facades will be of glass. The building will be certified with the LEED Platinum environmental certificate.

"The ambitious goal of the Katajanokka Laituri project is to build a carbon-neutral commercial space, which uses energy solely from renewable sources. A LEED Platinum environmental certificate, which takes a wide range of sustainability aspects into consideration, will be applied for the building. All parties of the construction project must commit to our goal from the very start. We are very pleased to appoint Puurakentajat, an experienced and skilled Finnish wood constructor, as contractor of the wood frame", said Sari Raunio, director of real estate development at Varma Mutual Pension Insurance Company.

"We are grateful that Puurakentajat has been chosen as supplier of the wood frame of the building. We construct ecological and high-quality low-carbon buildings of solid wood. According to our estimates, the wood frame of this project binds around 5,700 tons of CO2-eq. This is only possible with a solid wood solution. Thanks to the beautiful features of wood, we are also contributing to beautiful and prominent architecture at a central location in Helsinki. We are very proud of this," said Mikko Leino, CEO of Puurakentajat.

LEED is an American certification system that aims to reduce the negative environmental impact of construction and real estate. Key considerations in the certification include, for example, the plot and location of the building, efficiency of water use, energy efficiency, material efficiency and the quality of the indoor climate. Read more: https://www.usgbc.org/leed

Website of construction project pages: https://katajanokanlaituri.fi/

More information:
Puurakentajat Group Oy, CEO Mikko Leino
Tel. +358 40 551 4055
mikko.leino[at]puurakentajat.fi

Mutual pension insurance company Varma, Property Development Director Sari Raunio
Tel. +358 50 526 6886
Sari.Raunio[at]varma.fi

Puurakentajat Group Oy is a Finnish group specializing in wood technology and construction with decades of experience in solid wood construction and renovation. We design, produce and build ecologically sustainable and healthy single-family houses, apartment blocks, schools and day-care centres, among others. The use of solid wood elements enables new architectural solutions and enhances construction, both economically and from the viewpoint of the environment and health. We construct solid wood buildings where people feel good. www.puurakentajat.fi

The mutual employment pension insurance company Varma is a responsible and solvent investor of pension funds. The company is responsible for the pension security of approximately 957,000 people in the private sector. In 2021, Varma's contribution income was EUR 5.6 billion, and the company paid EUR 6.2 billion in pensions. The value of Varma's investments at the end of September 2022 was 56.4 billion euros. www.varma.fi

Puurakentajat Group Oy to construct a comfortable and energy-efficient wood apartment building in Etelä-Haaga in Helsinki

Puurakentajat Group Oy, Press release, 6 October 2022 at 3.00 p.m. EEST 

Puurakentajat Group Oy, the Finnish expert in solid wood construction, has been appointed to construct a wood apartment building in Etelä-Haaga in Helsinki, together with Woodberg Oy, a specialist in urban wooden construction. The four storey building called Asunto-osakeyhtiö Haagan Artturi, is built from solid wood and equipped with cost efficient and environmentally friendly geothermal heating. The construction project includes 11 ecological apartments and a total of 850 square meters of floor area.

Construction will begin at the factory this autumn, and the preliminary schedule for completion is in the autumn of 2023. The short construction time is made possible by the tailored, pre-fabricated construction concept of Puurakentajat. 

Haagan Artturi is Puurakentajat’s first proprietary pre-fabricated construction project where the pre-fabricated modules are produced at Timberpoint Oy's Loviisa factory in Eastern Finland. The high degree of pre-fabrication and manufacturing in indoor premises enable the production of pre-fabricated modules of top quality.

"All stages of the production can be carried out quickly, accurately and efficiently in the heated factory hall. At the same time, the indoor production site allows us to pay even more attention to employee health and safety," said project development manager Tatu Teriö from Puurakentajat.

The Haagan Artturi project meets today's high environmental requirements in several ways. As a supplementary construction site, it does not require any new infrastructure and it will be built of environmentally friendly solid wood. This energy class A building will be heated with cost efficient and ecological geothermal heat, and it can be equipped with solar panels. Indoor comfort is further enhanced with hydronic underfloor heating.

”We are excited to implement our first pre-fabricated construction project with our experienced partner Puurakentajat. This is our second project with them. The first one was the terraced house As. Oy Laajasalon Greija, which was built in 2018 in Laajasalo, Helsinki," said CEO and architect Aleksi Niemeläinen of Woodberg Oy. 

"This project is fully in line with Puurakentajat Group’s strategy. We construct ecological and high-quality low-carbon buildings from solid wood, without vapour barrier plastics. While the CO2 equivalent of apartment buildings of similar size and built with traditional construction methods is about 156 tons, this solid wood project binds about 330 tons of CO2 equivalent. This can only be achieved with solid wood as construction material," stated CEO Mikko Leino of Puurakentajat. 

Carbon dioxide equivalent (CO 2-equivalent) describes the combined climate-warming effect of greenhouse gas emissions.

 Read more about the building (in Finnish) on haaganartturi.fi 
 

Further information: 

Puurakentajat Group Oy, Mikko Leino, CEO
Tel. + 358 40 551 4055  
Email: mikko.leino@puurakentajat.fi

Puurakentajat Group Oy is a Finnish group specializing in wood technology and construction with decades of experience in solid wood construction and renovation. We design, produce and build ecologically sustainable and healthy single-family houses, apartment blocks, schools and day-care centres, among others. The use of solid wood elements enables new architectural solutions and enhances construction, both economically and from the viewpoint of the environment and health. We construct solid wood buildings where people feel good. www.puurakentajat.fi 

Puurakentajat's new Board of Directors supports the company's strong growth strategy

Press release 9 February 2022 at 10:45EET 

Puurakentajat Group Oy, the expert in solid wood construction, has nominated three new members to its Board of Directors: Sanna Nokka from Verona Group, Maria Toivanen from Onvest Oy and Pertti Vanhanen from Cromwell Property Group. The new Board of Directors supports the company's strong growth phase and is a continuum to the company’s changed ownership structure, which was implemented in November 2021 when Onvest Oy and Finnish Industry Investment Ltd (Tesi) acquired a stake in Puurakentajat through a directed share issue.

Since 2006, Puurakentajat Group Oy has designed and built ecologically sustainable, resilient and healthy detached homes, apartment buildings and schools and kindergartens, among others. The growing trend of responsible and ecological construction is reflected in the strong order backlog of Puurakentajat. Examples of extensive and impressive projects of Puurakentajat are the sea-side Satama Arena in Kotka and the wooden apartment block As Oy Portinvartija in the historic center of Turku.

The company is developing its business with a clear objective. The goal is to grow into the leading group in the Nordic countries specializing in the development and construction of wood technology and wood construction. In Finland, the company is already the market leader in solid wood construction.

Newly nominated Board of Directors

Three new board members have been nominated: Sanna Nokka, Tax Expert and CEO of Verona Tax & Legal Oy and Verona Consulting Oy, Maria Toivanen, Chairman of the Board of Directors of Onvest Oy and Pertti Vanhanen, European CEO of Cromwell Property Group.

Jyrki Huttunen, the founder, main shareholder and chief operating officer of Puurakentajat, will continue as Board member. Mikke Ruuhonen will continue as Chairman of the Board. Esa Koponen, Investment Manager at Tesi, will act as observer of the Board of Directors.

Following the transaction in November 2021, the family held Onvest Oy owns about 28% of Puurakentajat and Tesi just over 14%. Onvest invests primarily in companies with exceptional know-how and in sectors with high entry barriers. Maria Toivanen from Onvest commented:

“Puurakentajat is a significant player in the Finnish construction industry who in a tremendous way improves the Finnish wood construction know-how. It is a pleasure to be involved in developing and growing this responsible business that takes ecological values ​​forward in an innovative way towards international success.”

“I am delighted about the opportunity to support Puurakentajat in building their growth story. It is great to be able to support growth and internationalization of high-quality and environmentally friendly construction,” said Pertti Vanhanen.

“We now have an experienced Board with broad strategic competence, which supports and enables profitable growth and internationalization of Puurakentajat, ”said Mikke Ruuhonen, Chairman of the Board of Puurakentajat. 

Further information:
Puurakentajat Group Oy, Mikko Leino, CEO
Tel. + 358 40 551 4055 
mikko.leino@puurakentajat.fi 

Puurakentajat Group Oy, Mikke Ruuhonen, Chairman
Tel. + 358 40 0150206
Mikke.ruuhonen@puurakentajat.fi 

Puurakentajat Group Oy is a Finnish group specializing in wood technology and construction with decades of experience in solid wood construction and renovation. We design, produce and build ecologically sustainable and healthy single-family houses, apartment blocks, schools and day-care centres, among others. The use of solid wood elements enables new architectural solutions and enhances construction, both economically and from the viewpoint of the environment and health. We construct solid wood buildings where people feel good. www.puurakentajat.fi

Puurakentajat and Stora Enso strengthen partnership

Puurakentajat Group Oy Press release 1 February 2022 at 10.30 EET

Puurakentajat and Stora Enso have worked together for about ten years and the partnership continues with several new projects. New schools, an event centre by the sea, and apartments in a historical urban block are being built in partnership. All from solid wood. 

Wood construction is strongly on the rise in Finland and worldwide driven by climate and health related concerns. Wood construction supports achievement of climate goals and reduces the use of non-renewable materials. Solid wood buildings improve well-being by introducing nature to the urban environment. Wooden surfaces increase comfort of indoor spaces. Several studies have shown that interiors with wood surfaces decrease stress levels and blood pressure, as well as improve concentration.

“The modern CLT and LVL solid wood products made by Stora Enso enable versatile construction, replacing construction materials made from non-renewable raw materials. While carbon is stored in the solid wood and remains sequestered in wooden buildings for a long time, new forests are growing binding even more carbon dioxide,” commented Antto Kauhanen, development manager at Stora Enso.

Puurakentajat Group, a Finnish group specialising in wood technology, has several decades' worth of experience of solid wood construction and renovation. For the last ten years, Puurakentajat has worked closely with Stora Enso. 

“We are Stora Enso’s largest Finnish client for solid wood elements, as well as their partner. We have supported them in developing their information systems for CLT and LVL construction, and cooperated in product development for new housing concepts for many years,” said Mikko Leino, CEO of Puurakentajat. 

“Puurakentajat is Finland’s most experienced company that specializes in solid wood construction. Our cooperation has developed successfully through dozens of completed projects. Over the last few years, our cooperation has intensified significantly as Finland’s wood construction market has become increasingly more attractive. We need skilled partners in the construction value chain with whom we can respond to the growing demand for wood construction,” added Antto Kauhanen.

Four large new solid wood sites at the starting line 

Puurakentajat has four significant new construction sites starting in different parts of Finland. CLT solid wood elements have already been purchased from Stora Enso and the frames will be assembled on site during the first quarter of this year.

“We work with all of Finland’s CLT solid wood suppliers. For this project we needed large quantities of wood in one delivery and we therefore selected a supplier who could handle the required quantity and delivery timetable, which is about 250 cubic metres per week,” Leino said. 

The sites are all new: Helsinki School of Natural Sciences, Kyrkfjärden school in Inkoo, As Oy Portinvartija in Turku and the Kotka event centre. 

The Helsinki School of Natural Sciences in Kumpula will be a five-storey building including basement, a total of about 5290 building gross square metres (BGSM). The frame solution will be a CLT and timber frame system, which will require about 1800 cubic metres of solid wood. The customer’s ambition is to build an energy and lifecycle efficient low-carbon building, a learning environment that supports the growth and development of the youth. 

Jaakko Keppo of the architect AFKS is familiar with the diverse nature of CLT construction and the architectural solutions it enables.

“The School of Natural Sciences, rational by its nature, will be located in an urban science district. It will have simple, uninsulated and damage resistant CLT external walls, which support the building’s long lifecycle. The external walls of solid wood will also help stiffen the building, adding flexibility by freeing up the timber-framed interior from separate stiffening partition walls. The CLT-concrete jointed intermediate floors have been measured to carry twice the required load, increasing flexibility. The building is Finland’s first five-storey school building made of wood and the project shows that CLT can be used as a construction material even for such challenging sites,” said Keppo.

Another project that has already begun is the Kyrkfjärden school. This two-storey building’s total area is about 3130 BGSM and the amount of solid wood required for the project is about 1500 cubic metres. The customer wants to offer students a healthy, safe, damage-resistant and architecturally high-level school building, which truly fits into the cultural environment by the sea.

“CLT meets the demands of customers and the environment in many ways. Wood is a pleasant and traditional material which is wonderfully suited as interior material for a school. Wood has strong ties to tradition, and CLT is a both durable and easily shaped construction material. Solid wood structures have a “rustic” simplicity, are damage-resistant and dense, suitable even for the rough conditions by the sea,” added Keppo.

Puurakentajat will also build the wood apartment buildings, As Oy Portinvartija, in Turku’s historical centre using Stora Enso’s solid wood. The on-site ground and foundation work for the buildings have already begun. The wooden apartment buildings of over 4,400 square metres will have 58 apartments as well as commercial space on the street level and underground parking. The amount of solid wood needed for this project is about 1300 cubic metres. 

Puurakentajat will begin the construction of the event centre Satama Areena in Kantasatama, Kotka next spring, with a frame made up of solid wood glulam beams, CLT solid wood walls and LVL ribbed slabs. The amount of solid wood needed is about 1500 cubic metres. Leino commented on the significance of Satama Areena for the City of Kotka:  

“The event centre is a huge project by the sea, an impressive solid wood structure with a sloped roof. We will be creating a building that raises the entire city’s architectural profile.” 

Further information: 

Puurakentajat Group Oy, CEO Mikko Leino
Tel. + 358 40 551 4055  
mikko.leino [at] puurakentajat.fi

Stora Enso, development manager Antto Kauhanen 
Tel. +358 40 5455295
antto.kauhanen [at] storaenso.com

Puurakentajat Group is a Finnish woodtech and CLT -construction company with decades of experience in solid wood construction and renovation. We design, produce and build ecologically sustainable and healthy residential properties, apartment buildings and e.g. nurseries and schools. Cross Laminated Timber (CLT) construction enables modern architectural solutions and contributes to economic, environmental and health efficiencies. We build solid wood buildings where people feel well. www.puurakentajat.fi

Stora Enso is a global supplier of packaging, biomaterials, wood products and renewable products in the paper industry, as part of the bioeconomy. We believe that everything that is produced from non-renewable materials today can be produced from wood tomorrow. The group employs about 23,000 people and makes sales in over 50 countries. In 2020, our turnover was EUR 8.6 billion. The prices of Stora Enso’s shares are determined by Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R). In addition, Stora Enso’s ADRs (SEOAY) are traded in the United States. www.storaenso.com/investors

Onvest and Tesi to acquire a stake in Puurakentajat enabling the company to enter a new growth phase

Media release 9 November 2021 at 10:00 a.m. 

Family company Onvest Oy has acquired a significant stake in Puurakentajat Group Oy, the Finnish expert in solid wood construction, and becomes an active industrial owner of the company. Furthermore, Tesi (Suomen Teollisuussijoitus Oy) has also acquired a stake in the company. The changing ownership structure enables Puurakentajat to develop its strongly growing operations to a new level. 

Wood construction is growing strongly both in Finland and globally, driven by objectives and guidelines regarding carbon neutrality and sustainable use of wood. The Finnish Ministry of the Environment has published national targets for public wood construction, stating that the share of wooden constructions in public buildings should be 31% by 2022 and 45% by 2025. Finland is aiming at carbon neutrality by 2035. 

Puurakentajat has been designing, producing and building ecologically sustainable and healthy single-family houses, apartment blocks, schools and day-care centres and other types of building since 2006. The growing trend of sustainable and ecological construction is also reflected in Puurakentajat’s strong order book.

“There is a lot of demand for solid wood construction at the moment. Consumers are appreciating ecological and healthy forms of living at a growing rate. At the same time, the environmental regulations are becoming tighter in a way that favours wood construction. We are well positioned to respond to this demand and are excited to take our business to the next level supported by the competence of both Onvest and Tesi”, said Mikko Leino, CEO of Puurakentajat 

“The strengthening of the ownership structure is a continuation of Puurakentajat Group’s strategy to grow into a leading group specialising in wood technology and construction in the Nordics. We appreciate especially Onvest’s commitment to Finnish entrepreneurship and the fact that we share the same values. We are also happy to see Teollisuussijoitus joining us and bringing along its competence and vision of the market as well as in development of growth companies,” said Mikke Ruuhonen, Chairman of the Board of Puurakentajat.

“This investment allows us to build a new pillar for Onvest based on wood construction. At the same time we see this as an important investment in Finnish industry. We are a responsible, long-term owner who wants to help build new flagships for the Finnish industry, and create new jobs and new Finnish internationalisation stories. Our growth is driven by the family company’s passion to build sustainable Finnish success stories. 

Onvest primarily invests in companies with outstanding competence and know-how in industries with high entry barriers. Puurakentaja’s vision is very much in line with Onvest’s values and business strategy. We want to support construction that enables clean indoor air and a healthy living environment for future generations. We see Puurakentajat as a pioneer in this field,” said Maria Toivanen, Chairman of the Board of Onvest.

“Tesi has identified wood construction as a growth area with opportunities for high positive impacts. Using solutions based on solid wood improves sustainability of the construction value chain and increases the added value of wood in Finland. We want to support the growth of the entire wood construction ecosystem by increasing Finnish industrial investments. Puurakentajat is a pioneer in solid wood construction in Finland and is now getting new owners to support its long-term growth ambitions,” says Esa Koponen, Investment Manager at Tesi.

After the transaction has been completed, Onvest will own 27.91% and Tesi 14.29% of Puurakentajat.

Further information:
Puurakentajat Group Oy, CEO Mikko Leino
Tel. + 358 40 551 4055 
mikko.leino [ät] puurakentajat.fi

Onvest Oy, Chairman of the Board Maria Toivanen
Tel. + 358 40 534 5217 
maria.toivanen [ät] onvest.fi

Tesi (Suomen Teollisuussijoitus Oy), Investment Manager Esa Koponen
Tel. + 358 50 577 9166
esa.koponen [ät] tesi.fi

Puurakentajat Oy Groupis a Finnish group specialising in wood technology and construction with decades of experience in solid wood construction and renovation. We design, produce and build ecologically sustainable and healthy single-family houses, apartment blocks, schools and day-care centres, among others. All the buildings are made from wood sourced from PEFC-certified forests. The use of CLT (Cross Laminated Timber, solid wood elements) is at the core of our competence. The use of solid wood elements enables new architectural solutions and enhances construction, both economically and from the viewpoint of the environment and health. We construct buildings where people feel good. www.puurakentajat.fi

Onvest Oy is a Finnish sustainable family company. The Group’s goal is to develop Finnish industrial operations, real estate business and, through investment operations, other businesses. The company was founded in 1913 by Alfred Onninen as plumbing contractor A. Onninen. In 2020, the company’s turnover was EUR 147 million and is increasing strongly. www.onvest.fi

Tesi (Suomen Teollisuussijoitus Oy)a state-owned investment company wanting to raise Finland to the forefront of renewed economic growth by investing in funds and directly in companies. We invest profitably and responsibly to create the world’s next success stories. We have EUR 2.1 billion worth investments under management. www.tesi.fi/en | @TesiFII

Puurakentajat to build solid wood apartment buildings in Turku together with Finnish S-Bank

Press release 27 September 2021 at 9:30 a.m.

Puurakentajat Group Ltd., the expert in solid wood construction, is building two solid wood apartment buildings in Turku, southwest of Finland, in cooperation with a property fund managed by FIM Asset Management Ltd, a subsidiary of Finnish S-Bank. The wooden apartment buildings of over 4,400 square metres will have 58 apartments as well as commercial space on the street level and residential underground parking. Known as the Portinvartija buildings, the new construction project is a continuum of the Lyhdynkantaja apartment building previously built by Puurakentajat on the same block.

Puurakentajat has sold the shares in As Oy Turun Linnanfältin Portinvartija including the actual property as well as project development to FIM Real Estate Non-UCITS Fund (S-Bank Housing Non-UCITS Fund as of October 7th). The fund wants to contribute with a positive impact on the carbon handprint of residential buildings and construction generally.

Puurakentajat acts as contractor with overall responsibility of the construction. This enables Puurakentajat to make more efficient use of their expertise in solid wood construction at all stages of the construction project and, thereby, ensures high quality work. 

The design work of the construction project is currently being finalised. The ground and foundation work will be completed by the beginning of 2022. For the wooden frame, the construction phase is estimated to start in March 2022. The 58 new apartments and commercial premises will be ready to move in during the winter 2022–2023.

“Wood construction is now in high demand. Consumers increasingly value ecological and healthy modes of living. Solid wood allows for construction without the use of moisture barrier plastic sheeting. In addition, it has the best carbon sequestration capacity when compared to any other construction method, which is essential in combating climate change. This block of three solid wood apartment buildings will also be an architecturally interesting, aesthetic entity. The first of the buildings, Lyhdynkantaja, was completed a couple of years ago – residents were able to move in for Christmas 2019,” said Mikko Leino, CEO of Puurakentajat.  

Partnering with a property fund managed by a subsidiary of S-Bank 

”As in many growth centres in Finland, there is strong demand for quality residential homes in Turku. We are pleased to be able to help bring some relief to the shortage of housing by constructing new, environmentally friendly solid wood homes for the rental market”, said Juho Santaharju, fund manager at S-Bank Group.   

Rakennuttajatoimisto HTJ Oy is in charge of project management and supervision. Oy Rakennuspartio is the project’s main contractor. The main designer is Schauman Arkkitehdit Oy and the structural designer is Puurakentajat Suunnittelu Ltd and Sweco Structures Ltd. Puurakentajat Rakennus Ltd provides the wooden frame.

The project benefits from the special features of solid wood

Solid wood has several health benefits: as it is naturally breathable it balances room humidity and creates pleasant and healthy indoor air. According to studies, wooden construction material also, among other things, reduces stress levels and improves concentration.

Wooden material acts as a carbon sink throughout the lifecycle of the building. A wooden building is long-lasting and the wood material is also fully recyclable.

The Finnish Ministry of the Environment places strong emphasis on increasing wood construction to curb climate change. The built environment, which accounts for the majority of energy consumption and emissions, plays an important role: nearly 40 per cent of all energy consumed in Finland is used in buildings and more than 30 per cent of emissions are caused by buildings.

For more information, please contact:

Puurakentajat Group Oy, CEO Mikko Leino
Tel. + 358 40 551 4055 
mikko.leino[ät]puurakentajat.fi

S-Bank Group, Real Estate Fund Manager Juho Santaharju
Tel. +358 40 769 2252
juho.santaharju[ät]s-pankki.fi

Puurakentajat Group is a Finnish group specialising in wood technology with decades of experience in solid wood construction and renovation. We design, produce and build ecologically sustainable and healthy single-family houses, apartment blocks, schools and day-care centres. The solid wood elements of Puurakentajat enable modern architectural solutions and make construction more efficient economically as well as in terms of the environment and health. We construct buildings where people feel well. www.puurakentajat.fi

S-Bank is a Finnish bank that wants to help everyone achieve a slightly more affluent tomorrow, regardless of the size of their wallet. At S-Bank, expertise means that we understand the economy and people: as part of the S Group, we know the everyday lives of our 3.1 million customers. We are changing the banking sector by offering superior ease and benefits by offering both banking and retail services. www.s-pankki.fi 

Puurakentajat to supply solid wood frames for two new schools in Uusimaa in Southern Finland

Press release 8/25/2021 at 13.00

Puurakentajat Group Oy has been selected as supplier of solid wood frames for two new schools in Uusimaa, Southern Finland. The delivery of the wooden frame to the Helsinki School of Natural Sciences at the Kumpula University Campus will take place in late 2021, and the construction of the largest Swedish-language school in Inkoo in a picturesque location on the banks of the Inkoo River will begin in early 2022. The school children will start in their new premises in Inkoo by the end of 2022 and the upper secondary school students of Kumpula University in the autumn of 2023. 

The Helsinki School of Natural Sciences will be a total of about 5,290 brm2 spread over five floors and a basement. The Kyrkfjärdens school in Inkoo will have two floors and a total area of ​​approximately 3130 brm2.

CLT (Cross Laminated Timber) solid wood elements from Puurakentajat are used in a variety of ways in both construction projects. Puurakentajat’s elements were selected on environmental grounds as well as the health, safety and sustainability of the building, and for aesthetic reasons.

According to the municipality of Inkoo, the owner of the building project Kyrkfjärden school in Inkoo, the goal is to build an architecturally high-quality, healthy, safe and fault-tolerant wooden school building.

In the Kumpula University joint construction project of the City of Helsinki and Helsingin Yliopistokiinteistöt Oy, the aim is to build facilities, which meet current standards; facilities, which are accessible and suitable for all learners, supporting the growth and development of young people. The new premises allow for increased community feeling on and around campus. This low-carbon building will be energy and life cycle efficient.  

Health and safety first

CLT solid wood elements of Puurakentajat are in a class of their own in terms of ecology, natural breathability, fire safety, durability and acoustic features. CLT frames form a compact, breathable and finished inner surface, and thanks to its rigidity, as well as its load-bearing capabilities, the CLT-frame enables architecturally innovative solutions. As an example: in the Helsinki School of Natural Sciences, the CLT wooden element structures are used also for building stairs, and the CLT elements in the walls serve as handrails in the stairway.

“Naturally, health and safety are high on the agenda when constructing school buildings. We are happy to be involved in building a better and healthier future for school children and students. A growing number of municipalities are nowadays aware of solid wood construction as the best option, and as several scientific studies have shown, wood construction has superior health properties such as reduced stress levels and blood pressure, antibacterial features and improved learning outcomes,”says Mikko Leino, CEO of Puurakentajat Group Oy.

Last autumn, the Ministry of the Environment in Finland published national targets for public timber construction, according to which the share of timber construction in all public new construction will be 31 percent in 2022 and 45 percent in 2025. Underlying this is climate change mitigation and the drive towards low-carbon construction. https://ym.fi/-/selvitys-valtaosa-suomalaisista-haluaa-etta-oma-kotikunta-rakentaisi-enemman-puusta

More information: Puurakentajat Group Oy Mikko Leino, CEO
Tel. + 358 40 551 4055
mikko.leino@puurakentajat.fi 

Puurakentajat Group Oy is a Finnish expert in wood and Cross Laminated Timber (CLT) construction with decades of experience of solid wood construction and renovation. We design, produce and build ecologically sustainable and healthy residential properties, apartment buildings and e.g. daycare centers and schools. Our core expertise is efficient and environmentally friendly CLT construction. All buildings are built from PEFC-certified trees. CLT construction enables modern architectural solutions and contributes to economic, environmental and health efficiencies. We build solid wood buildings where people feel well. www.puurakentajat.fi

Puurakentajat Group to move its operations to new carpentry premises in Porvoo

PRESS RELEASE Puurakentajat Group Oy 30.4.2021 

Puurakentajat Group Ltd., the Finnish expert in solid wood construction, has bought a traditional carpentry workshop in the village of Ilola in Porvoo and will move its operations to the new premises during the summer. Built in 1930, the property has previously served as a locally well known carpentry workshop, Illby Snickars. In recent years, the building has housed an exhibition space and café. Puurakentajat Group will return the property back to its original carpentry roots. As Puurakentajat is growing rapidly, the 800-square-meter property offers new production space and the opportunity to concentrate all its operations under one roof.

Demand for environmentally friendly solid wood construction is growing rapidly, which is also strongly reflected in Puurakentajat’s business. The new premises support Puurakentajat on its growh path. It includes office space and an actual carpenter's workshop that enables production of, for example, modular suspended ceiling elements. The property is also well located and offers employees from different parts of Finland comfortable and cost-effective accommodation. The Helsinki Metropolitan Area is one of Puurakentajat’s most important growth areas. 

“It is a true honor to restore the old and valuable property to its original carpentry roots. It supports our growth strategy and growing demand. The use of solid wood is constantly growing. Architects have discovered its versatile potential which leads to more carpentry work in addition to construction work. In the new premises we can increase the value added of our products and reduce raw material waste. The old wooden building fits our values perfectly and it is right in the heart of our story about the longevity and sustainability of wood as a building material, ”says Mikko Leino, CEO of Puurakentajat Group.

Nordic Craft, which builds traditional wooden boats with both beauty values and modern materials and technology, will also move into the premises.

“As Nordic Craft’s business is growing we need additional space. We are very fortunate to be sharing space with Puurakentajat in their new office and workshop, which is full of character. Being side by side also creates mutually beneficial synergies, ”says Mats Vuorenjuuri of Nordic Craft.

More information:
Puurakentajat Group Oy Mikko Leino, CEO
Tel. + 358 40 551 4055
mikko.leino@puurakentajat.fi

Nordic Craft, Mats Vuorenjuuri
Tel. +358 45 638 8070
www.nordiccraft.fi

Puurakentajat Group Oy is a Finnish expert in wood and Cross Laminated Timber (CLT) construction with decades of experience of solid wood construction and renovation. We design, produce and build ecologically sustainable and healthy residential properties, apartment buildings and e.g. daycare centers and schools. Our core expertise is efficient and environmentally friendly CLT construction. All buildings are built from PEFC-certified trees. CLT construction enables modern architectural solutions and contributes to economic, environmental and health efficiencies. We build solid wood buildings where people feel well. 

www.puurakentajat.fi

Puurakentajat to supply the solid wood frame to the new martta wendelin daycare cente

PRESS RELEASE 26 January 2021 at 10:15 am (EET)

Puurakentajat Group Ltd., the Finnish expert in solid wood construction, will provide the solid wood frame and be in charge of its installation for the new Martta Wendelin Daycare Center in Tuusula. 

The building will be the largest CLT daycare center in Finland in terms of cubic meters. The building made of solid wood will be a 3200 sqm, modern, healthy and safe daycare center for more than 240 children. In addition to the normal use of the daycare center, the versatile building space can easily be transformed for other purposes during evenings and weekends.

The main contractor of the construction project is Arkta Rakennuskultti Oy. Principal designer of the project is Architects Frondelius + Keppo + Salmenperä Oy.

The construction contract complies with the environmental criteria of the Nordic Swan Ecolabel, which ensures that the building is environmentally friendly throughout its life cycle.

Puurakentajat’s work begins in April 2021, and the daycare center is scheduled to be completed in May 2022.

“It is great that Puurakentajat has again been picked as constructor of a new solid wood daycare center. This is the largest daycare center built of solid wood in Finland. It is also the fifth daycare center project, where Puurakentajat supplies the CLT wooden frame and installation. This project enhances Cross Laminated Timber as a modern building technique. It also strengthens Puurakentajat’s reputation as a highly experienced CLT builder, especially in demanding projects like this where the objective is to build a healthy and safe learning environment for children. This project is further evidence of the considerable growth potential in solid wood construction and it gives us further confidence in our efforts to reach our growth targets in challenging market conditions”, said Mikko Leino, CEO of Puurakentajat Group Oy.

“This is our first CLT daycare center project and we are very excited about it. Arkta Rakennuskultti wants to be at the forefront of ecological construction. Hence, we are particularly pleased to be involved in this project, which will allow us to construct a Nordic Swan Eco labelled daycare center. As main contractor of this project we are also pleased to pick an experienced supplier of CLT frames and installation”, said Marko Kähkönen, CEO of Arkta Rakennuskultti Oy.

Puurakentajat has picked Stora Enso and Versowood as material suppliers for the construction project.

In building design, it is increasingly important to find solutions that can curb climate change and optimize the recyclability of materials throughout the building's life cycle. By using wood materials the carbon footprint is reduced during the construction phase. Wood materials also enhance carbon-neutrality throughout the building’s life cycle. Wood buildings are long-lasting and the material is also fully recyclable. Interest in solid wood construction is growing at an accelerating pace.

More information:
Puurakentajat Group Oy Mikko Leino, CEO
Tel. + 358 40 551 4055
mikko.leino@puurakentajat.fi

Puurakentajat Group Oy is a Finnish expert in wood and Cross Laminated Timber (CLT) construction with decades of experience of solid wood construction and renovation. We design, produce and build ecologically sustainable and healthy residential properties, apartment buildings and e.g. daycare centers and schools. Our core expertise is efficient and environmentally friendly CLT construction. All buildings are built from PEFC-certified trees. CLT construction enables modern architectural solutions and contributes to economic, environmental and health efficiencies. We build solid wood buildings where people feel well. 

www.puurakentajat.fi

Puurakentajat to build the new Pakilanpuisto school in Helsinki

Press release 16 October, 2020 at 15:30 p.m. (EEST)

Puurakentajat Group Ltd., the Finnish expert in wood and Cross Laminated Timber (CLT) construction, has been appointed for the construction of the wooden Pakilanpuisto school in Pakila, Helsinki. As part of the “Carbon neutral 2035” initiative of the city of Helsinki, tough environmental targets have been set for the project with wood material playing a central role. The over 4000 sqm school is constructed as an alliance with Puurakentajat, as subcontractor to the alliance, in charge of all wood related structural and product planning as well as installation. The school’s more than 1 000 pupils will enter their new wooden school building in the beginning of 2022.

The construction ordered by the city of Helsinki is run in an alliance made up of NCC Suomi, Työyhteenliittymä Arkkitehdit Frondelius+Keppo+Salmenperä, Arkkitehdit Rudanko+Kankkunen, FCG Suunnittelu ja Tekniikka and Ideastructura. Puurakentajat provides all the wooden parts of the building while Puurakentajat Suunnittelu Ltd. is in charge of structural and product planning and Puurakentajat Rakennus Ltd. of the construction. Puurakentajat has chosen Stora Enso as supplier of the wooden CLT-parts.

CEO of Puurakentajat Group Ltd., Mikko Leino:

“I am really pleased that we have yet again been appointed for the construction of a new school in Helsinki. The school will offer a modern, environmentally friendly, pleasant and inspirational learning environment. The city of Helsinki’s “carbon neutral 2035” target is tough. We are particularly pleased that Puurakentajat’s extensive CLT-construction know-how and modern construction techniques meet the requirements of a demanding customer with such strong focus on environmentally friendly solutions. This is also a strong reminder of the considerable growth potential of wood construction and that our own growth ambitions are well within reach while the rest of the construction industry is currently struggling with weak growth prospects.”

Further information
Mikko Leino, CEO of Puurakentajat Group Oy
Tel. +358 (0)40 551 4055
E-mail: mikko.leino@puurakentajat.fi

Puurakentajat Group Oy is a Finnish expert in wood and CLT -construction with decades of experience of solid wood construction and renovation. We design, produce and build ecologically sustainable and healthy residential properties, apartment buildings and e.g. nurseries and schools. Our core expertise is efficient and environmentally friendly CLT construction. Cross Laminated Timber (CLT) construction enables modern architectural solutions and contributes to economic, environmental and health efficiencies. We build solid wood buildings where people feel well. www.puurakentajat.fi.

Puurakentajat acquires Lahden Puurakentajat

Press release 18.9.2020 at 09:00 (EET)

Puurakentajat Group Oy, the Finnish expert in wood and Cross Laminated Timber (CLT) construction, has signed an agreement to acquire 100% of Lahden Puurakentajat Oy.

The acquisition enables Puurakentajat Pientalot Oy, part of Puurakentajat Group Oy, to offer private customers construction of cost-effective, ecological and high-quality solid wood detached homes. The acquisition also strengthens Puurakentajat’s expertise in CLT and Laminated Veneer Lumber -construction and expands the company's market position in the growing market for construction of solid wood homes.

Lahden Puurakentajat Oy is a Finnish construction company established in 2017. The company specialises in wood construction and CLT-construction in particular. Lahden Puurakentajat’s turnover of the current financial year is approximately 1 MEUR and the company has 14 employees who will transfer to Puurakentajat Pientalot Oy as the merger is completed in December 2020. Vili Koskinen, the founder and current owner of Lahden Puurakentajat Oy, and Tuukka Eskola, responsible for quality and after-sales of Lahti Puurakentajat Oy, will each hold a stake in Puurakentajat Pientalot Oy. Vili Koskinen will become the CEO of Puurakentajat Pientalot Oy.

CEO of Puurakentajat Group Oy, Mikko Leino:

“The targets recently set for the first time by the Finnish Ministry of Environment for public wood construction* and the estimated impact of these targets on the private construction industry strengthen our belief that solid wood construction will grow significantly in the coming years. Our strategy is to grow profitably and faster than the market, both organically and through acquisitions. Our main market is growth centers in Finland. This acquisition fully supports our growth strategy and helps us increase our market share in design, production and construction of solid wood detached homes.

CEO and founder of Lahden Puurakentajat Oy, Vili Koskinen:

“We are excited to become part of Finland's leading solid wood construction company, which has superior knowledge and expertise in design, production and construction of CLT-buildings. As construction of detached homes is changing, it is great to be able to accelerate that change towards more ecological, sustainable and efficient wood construction.”

Further information
Mikko Leino, CEO of Puurakentajat Group Oy
Tel. +358 (0)40 551 4055
E-mail: mikko.leino@puurakentajat.fi

Puurakentajat Group Oy is a Finnish expert in wood and CLT -construction with decades of experience of solid wood construction and renovation. We design, produce and build ecologically sustainable and healthy residential properties, apartment buildings and e.g. nurseries and schools. Cross Laminated Timber (CLT) construction enables modern architectural solutions and contributes to economic, environmental and health efficiencies. We build solid wood buildings where people feel well. www.puurakentajat.fi.

Lahden Puurakentajat Oy is a Finnish construction company specialised in wood construction. Established in 2017 the company’s core competence is in manufacturing of solid wood CLT-houses. Ecology, health, technical sustainability, energy efficiency, serviceability and short construction time are key strengths of CLT buildings. www.lahdenpuurakentajat.fi

*Ministry of the Environment press release 8.9.2020: The targeted market share of wood construction in all new public construction is set at 31% in 2022 and 45% in 2025. For the first time, national targets for public wood construction were set and municipalities are offered support to achieve the goals. Targets were also set for the largest building categories in terms of number of building, ie public educational buildings (55% in 2022 and 65% in 2025), buildings in the healthcare sector (20% in 2022 and 35% in 2025), residential apartment buildings (21% in 2022 and 46% in 2025) and assembly buildings (20% in 2022 and 30% in 2025). In 2019, about 18% of all new build was public construction. Out of that, about 15% was wood construction. www.ym.fi

Strategy & Board

BOARD OF DIRECTORS AND CEO

Puurakentajat appointed two new members to the Board of Directors at the Annual General Meeting: Jarmo Suominen, Professor, Service Architecture at Aalto and Tongji Universities as well as co-founder of NGIN Workplace Ltd and TRACTR Ltd, and Sally Järvelä, Medical Director at Kanta-Häme Hospital District, Doctor of Medical Science and MBA. The new members of the Board bring experience and insights from other industries, which is very important for the development of our operations and the implementation of our new strategy.Jyrki Huttunen, the company's founder, majority owner and chief operating officer, Mikke Ruuhonen, Chairman of the Board, and Mikko Leino, CEO, were re-elected as members of the Board.Mikko Leino has been appointed the new CEO of Puurakentajat Group Oy on August 25, 2020. Prior to his appointment, Leino served as the company's Chief Operating Officer since 2018. Jyrki Huttunen will continue as the CEO of Puurakentajat Rakennus Oy, which focuses on construction projects.

GROUP STRUCTURE

The Annual General Meeting also approved the company's new group structure, which includes Puurakentajat Suunnittelu Oy, Puurakentajat Pientalot Oy, Puurakentajat Rakennus Oy and Puurakentajat Invest Oy.The purpose of the new group structure is to concentrate key growth areas (planning, residential properties, construction and real-estate development) into separate entities, and that way take a step towards achieving the company’s ambitious growth targets. Mikke Ruuhonen, Chairman of the Board:“CLT-construction contributes to the international goals for mitigating climate change and it can be considered one of the most significant ways to achieve the international climate goals in the construction industry. Demand for solid wood production will grow strongly both in Finland and internationally. We will now start implementing our new growth strategy, supported by our new group structure and the renewed Board of Directors. ”Jyrki Huttunen, founder:“Our company's core values ​​have always been an important part of what we do and our expertise. It is important to us that everything we do shows strong professionalism, quality and reliability. We care about the world in which we operate. As the company grows and its priorities evolve, these changes must be reflected not only in our daily operations but also in our strategy and our leadership. However, throughout this change, our core values ​​remain unchanged and they continue to serve as the backbone of our company and our way of operating. 

Further information
Mikke Ruuhonen, Chairman of the Board
Tel. +358 (0)400 150 206
E-mail: mikke.ruuhonen@puurakentajat.fi

Mikko Leino, CEO
Tel. +358 (0)40 551 4055
E-mail: mikko.leino@puurakentajat.fi

Puurakentajat Group Oy is a Finnish expert in wood and CLT -construction with decades of experience in solid wood construction and renovation. We design, produce and build ecologically sustainable and healthy residential properties, apartment buildings and e.g. nurseries and schools.Cross Laminated Timber (CLT) construction enables modern architectural solutions and contributes to economic, environmental and health efficiencies. We build solid wood buildings where people feel well. www.puurakentajat.fi.