Joros Oy from Punkaharju specializes in pipe bending and electrolyte polishing. The products are made for the needs of the boat and other industries. Joros also has its own beach construction product family. The company's turnover is almost EUR 10 million and it employs about 70 people. Joros acquisition completed in spring 2021.
Joros Oy was founded in 1983 by Ossi Paakkunainen. Initially, the company worked in international project management positions. Since 1989, Joros Oy has been located in Punkaharju, where it started developing equipment parts with Finnish boat manufacturers. Thanks to product development, e.g. boat railings are now made mainly of acid-resistant steel and polished by electrolyte polishing.
In 2002, Toni Pesonen, a newly graduated product development engineer, joined Joros. His bravure was documenting and making drawings so that all employees could make all the products in production. In 2005, Ossi Paakkunainen asked Toni to join the company as a minority shareholder.
- Initially, pipe bending was performed manually. Now we wanted new machinery and started a strong investment. We purchased modern equipment with CNC technology. The Finnish boat technology began to show interest in the other Nordic countries as well, and the volumes of the boat industry increased year by year. With the latest technology, we were able to meet the increased demand and get more jobs.
In 2007, Ossi Paakkunainen transferred his responsibilities as President and CEO to Toni Pesonen. One year later, Pesonen increased his holding in the company. Everything looked good until 2008, when the financial crisis hit. Boat sales stalled and orders ran out.
- I had to come up with something else and I went around Finland with a briefcase in my hand. There was a demand for modern machinery and know-how. We gained new customers e.g. health care, bus manufacturers, agriculture and energy production. Thanks to the industrial design started in 2007, we were able to offer visually fine and complex products.
In 2011, Joros also began to develop its own product family. The company began designing and manufacturing beach construction products. It is the third backbone for the company. You don't dare to do subcontracting work to storage, but you can have your own product family.
- Our pier products are really high quality. They last for at least 50 years. A new and fine family of pier components is sold in Finland, Norway, and Sweden. It is now being exported to other parts of Europe. The same quality cannot be found in Finland, nor can it be easily found in other Nordic countries either, says Toni.
In 2017, Joros made another major investment. Previous devices were able to bend a pipe with a diameter of 20 to 90 mm. The new equipment can handle 6 - 225 mm pipes. - We are the most versatile pipe bender in Finland. The company has the most modern equipment possible with 3D technology and all the necessary know-how. We are able to produce a very wide range of different products.
In 2020, Joros Oy came to a point where it has a stable production base and a functioning organization. Sales are going well both at home and abroad.
- I have been working for the success of the company for more than 20 years and during that time I have increased my ownership a few times. My biggest passion started to wane and we started considering selling the company.
- We surveyed various business brokers and contacted Suomen Yritysmyynti Oy. Even after the first discussion, a good feeling and trust was born. Yes, we have to give Suomen Yritysmyynti 110% recognition for the professionalism how the process has been managed.
- Thanks to the extensive network of Suomen Yritysmyynti Oy, we were able to start discussions with potential buyers immediately. There were them both from Finland and abroad. After negotiations, we selected the most suitable one. The buyers could have been large investment companies, but it was important to us that the company has continuity. That's why we wanted to sell it to someone who also gives it a face.
Toni gives advice to the sellers of the company. A buyer can be found for a company if it is well maintained.
- When the figures are in order, there is no need to explain. The good history of the company is also important for future investments. With a good history, you can make better money in the market. No one can predict the future. Recent years have shown that in the market, surprising things can happen in one direction and another really fast. The company should be kept in such a condition that it can be abandoned at any time. Toni Pesonen will continue as Joros' advisor until the transition with the new management is over.
- After that, I'm starting to think about what I'm going to do as an adult, Toni says with a sense of humor.
Joros Oy's website: www.joros.fi