Smaragdus Group expanded its operations to Sweden through an acquisition

On May 29, 2020, Smaragdus Oy, the owner group of Fundacon Oy, acquired Witermo AB, a Swedish company operating in the energy sector. Witermo AB’s name change to Fundacon AB is pending. In the future, the company will operate as the Group’s Swedish business unit. Lars Sandberg of Fundacon Oy will become the CEO of the new Fundacon AB.

In the Smaragdus Group, Fundacon AB will be responsible for the sale of industrial investment projects and business growth in Sweden. The company’s goal is to grow the project management and consulting services business and to offer Smaragdus Group’s companies’  joint projects for the Swedish market.

Lars Sandberg of Fundacon Oy will become the CEO of the new Fundacon AB. He is responsible for growing the company’s business and number of staff, as well as overall sales of services in Sweden.

– The Group’s resources and the new Fundacon name create a strong basis for growing Smaragdus Group’s business in Sweden’s industrial and energy markets. There is already identified demand in Sweden for the services of our entire group, says Sandberg.

The companies in the Smaragdus Group already employ almost 250 top experts of their fields in both Finland and abroad. The Group’s turnover in 2019 was approximately EUR 20.9 million. Expanding the business to Sweden was the next step in the Group’s growth strategy.

–In Sweden, the investment market is stable and growing steadily. Sweden is a familiar local market area for our Group, and our companies’ highly refined operating methods sit well in the Swedish way of carrying out investment projects. A stronger presence in the Swedish market opens up many new opportunities for us to expand our customer base, says Timo Hyvönen, Smaragdus Oy’s Chairman of the Board.


More information

Lars Sandberg, CEO, Fundacon AB
tel. +358-400828721 and +46-767819292


Timo Hyvönen, Chairman of the Board, Smaragdus Oy
tel. +358 400 975 838
e-mail: timo.hyvonen(at)



The owners of the planning and project management group Smaragdus Oy are Finnish individuals that invest professionally and companies with significant expertise in business related to investment projects. Group is managed by investment company Helmet Capital. Smaragdus Group owns CTS Engtec Oy, which does industrial design and consulting, Fimpec Oy, which focuses on the construction and project management of industrial, real estate and infrastructure projects, and Fundacon Oy, which specializes in project management in the energy sector.