The development and growth of Fundacon Oy, which specializes in project management and expert tasks in the energy sector, will continue under new ownership. Services offered by Fundacon will further complement the comprehensive service package offered by its new owner, the Finnish Smaragdus Group and its companies, in industrial investment projects.

Founded in 1998, Fundacon Oy is a consulting company specializing in project management and expert tasks of energy projects. The company employs six people. In recent years, the company has operated successfully and has been involved in several domestic energy investment projects. Thanks to the development of operations, the company’s customer base has become established and the company’s founders have decided to seek a new ownership solution to secure future development and growth of the company.

Through a transaction completed on May 29, 2020, the new owner of Fundacon will be the Finnish Smaragdus Group. The Group’s owners are Finnish individuals that invest professionally and companies with significant expertise in business related to investment projects. The Group is managed by the investment company Helmet Capital and owns the industrial engineering and consulting company CTS Engtec Oy and Fimpec Oy, a leading operator in construction and project management in Finland. The services Fundacon offers in the energy sector will compliment and further support the overall services offered by the Group for the industry’s comprehensive assignments.

Frans Jokinen has been appointed the CEO of Fundacon as of June 1, 2020, and Antti Lukka has been appointed as the Chairman of the Board.  The company’s prior owners, Pekka Utunen, Lars Sandberg and Heikki Komonen, continue to work at Fundacon. The change in ownership will not have further personnel effects and in the future, the company’s aim is to increase the amount of personnel.

“The acquisition creates new opportunities for us to expand our operations into industries where our sister companies CTS Engtec and Fimpec are strong, such as the forest and process industries. In these fields, our expertise, especially power plant expertise, benefits the entire Group and strengthens its overall project expertise,” concludes Lars Sandberg, Fundacon’s Member of the Board.

“CTS Engtec and Fimpec, previously acquired by the Group, have created a strong foundation as industry project management and design partners. The acquisition of Fundacon opens a new growth channel for the Group’s existing project expertise in the energy industry. Fundacon supports the Group’s energy and project expertise, especially in the fields of power plant pre-design and procurement management. The first joint offers utilizing the whole Group’s expertise have already been made,” says Timo Hyvönen, Smaragdus Group’s Chairman of the Board.

More Information:


Frans Jokinen
CEO, Fundacon Oy
+358 45 359 4828


Lars Sandberg
Member of the Board, Fundacon Oy
+358 40 082 8721


Fundacon Oy specializes in providing comprehensive services to energy end-users both domestically and in the Baltic Sea region. The company’s employees specialize in energy industry’s expert tasks and project management.

Helmet Capital Oy Ab is a Finnish private equity company specializing in the ownership restructuring and industrial development of unlisted growth companies. It has invested in more than 50 companies. Helmet’s investors include a number of domestic and foreign professionally investing individuals, insurance companies and other institutions. Helmet’s driving force is a group of experienced Finnish industrial leaders.

CTS Engtec Oy is one of Finland’s leading companies that offers technical engineering and consulting services for investments. The professionalism of CTS Engtec’s personnel has been used by clients representing various industries for 50 years.

Fimpec Oy is an international project management company that provides comprehensive project management services for large industrial investments, commercial and office buildings, and public construction and infrastructure projects. Fimpec combines the expertise of internationally experienced experts and an extensive network of experts into a comprehensive service package.