Nordic company GRK Infra Plc has signed an agreement to acquire Finnish construction company Pirkan Rakentajapalvelu Oy from Rakentajapalvelu Group Oy. Part of the purchase price will be paid through a directed share issue in GRK.
As part of the transaction, GRK will also acquire the entire share capital of Pile Consulting Oy, a sister company of Pirkan Rakentajapalvelu. The acquisition is expected to strengthen GRK’s position in specialist foundation engineering and increase its capacity to carry out demanding piling, retaining wall and anchoring projects.
Purchase price of approximately EUR 10.6 million
The transaction has a base purchase price of approximately EUR 10.6 million, including EUR 6.4 million in cash and around 214,950 new GRK shares. The shares are valued at EUR 19.79 each, based on GRK’s VWAP during the 30 trading days before the agreement was signed.
The deal also includes an earn-out of up to EUR 2 million, based on the combined business’s EBIT during the 48 months after completion. Pirkan Rakentajapalvelu recorded revenue of EUR 18.5 million and an operating profit of EUR 2.5 million in 2025. Pile Consulting, which was established in 2026, had no revenue in 2025.
Closing expected by October 2026
The acquisition is subject to approval by the Finnish Competition and Consumer Authority and other customary conditions. GRK expects the deal to close by 1 October 2026.
Following regulatory approval, GRK plans to combine the acquired business with its existing ground stabilisation operations.
Acquisition strengthens GRK’s specialist expertise
GRK CEO Mika Mäenpää said the acquisition will add expertise and capacity in specialist foundation construction.
“The acquisition significantly strengthens our position in special foundation construction and complements our service offering with important areas of expertise,” Mäenpää said.
He added that the deal will further improve GRK’s ability to deliver demanding piling, retaining wall and anchoring projects, while supporting the company’s long-term growth strategy in Finland and Sweden.
New shares subject to 36-month restriction
GRK’s Board of Directors intends to decide on a directed share issue to the seller when the transaction is completed. Approximately 214,950 new GRK shares will be issued under the authorisation granted by GRK’s Annual General Meeting in 2026.
The seller has agreed to a 36-month transfer restriction on the new shares. The shares cannot therefore be transferred during the first 36 months following completion of the transaction.
About GRK
GRK operates in Finland, Sweden and Estonia and has approximately 1,200 employees. The company designs, repairs and builds roads, highways, tracks and bridges, and also provides services in electricity network construction and environmental technology.
