Mirka / KWH Group / Flexmill

Abrasives and power tools manufacturer Mirka Ltd. acquired 100% of the shares of the Finnish robotics company Flexmill.

Based in Nurmijärvi, Flexmill is an engineering and integrator company specializing in robotics and surface treatment automation, focusing on demanding sanding, polishing, and deburring applications. Flexmill, which employs approximately twenty robotics engineers and software programmers, has delivered hundreds of systems to more than seventy customers in twenty countries. Typical applications include propellers, turbines, foundry products, and welded and machined structures in the fields of Aerospace, Automotive, Marine, and Energy industries.

The acquisition of Flexmill is a key part of Mirka’s strategy to expand its range in robotics.

Flexmill was founded in 2017 as a spin-off from JOT Automation with Finnish Private Equity company Verso Capital as the investor and main shareholder. Verso Capital is a growth stage buyout investor that specializes in carve-out situations and complex business situations. They acquire and invest in European B2B companies and businesses that have good growth potential and revenues up to 50 MEUR, but currently are suffering from growth bottlenecks. Verso Capital manages three funds with over 160 MEUR of capital and have offices in Helsinki, Stockholm, and Munich.

Carner Corporate Finance (IMAP Finland) advised Mirka throughout the acquisition process.