Relais Group

What Relais Group does

Relais Group Oyj is a Helsinki-headquartered, Nasdaq Helsinki-listed consolidator (ticker RELAIS) operating in the Northern European commercial vehicle aftermarket. Founded in 1996 as Startax Auto-Electronics Oy in Tampere and reorganized under Relais Investment Oy in 2010, the company grew primarily through disciplined serial acquisitions following its 2019 listing on Nasdaq First North Growth Market Finland and 2022 upgrade to the main list. By year-end 2025 the group reported net sales of EUR 383.4 million, adjusted EBITA of EUR 38.4 million, and 1,687 employees across eight countries (Finland, Sweden, Norway, Denmark, Belgium, Estonia, Latvia, Lithuania). Relais organizes operations into three business areas: Commercial Vehicle Services (Hyötyajoneuvopalvelut), Products and Solutions (Tuotteet ja ratkaisut), and Technical Wholesale (Tekninen tukkukauppa), each led by a dedicated business area head.

The group's underlying technology is operational rather than product-facing: a platform-plus-subsidiaries model in which Relais retains 20+ acquired niche market leaders (Raskone, Team Verkstad/Verksted, Strands Group, Startax, HTD, Matro Group, Skeppsbrons, AutoMateriell, Lumise, Adita, SecSet, Awimex, Autodelar Sweden, LVD, Nordic Lift, Qpax, Nedking, CTC, TJ Fordonsservice, JTC, among others) under their original local brands. Proprietary data and AI tools are deployed in technical wholesale for inventory optimization, demand forecasting, and customer service support. The Commercial Vehicle Services business operates 61+ workshops across Finland, Norway, and Sweden; Products and Solutions distributes branded vehicle lighting and accessories internationally via Strands and Matro; Technical Wholesale aggregates parts, equipment, and technical solution distribution to workshops across the Nordic and Baltic regions.

Relais's business model combines recurring aftermarket service revenue (workshop maintenance and repair), transaction-based wholesale distribution of spare parts and equipment, and branded product sales. Pricing is B2B quote-based and not publicly disclosed. The group reaches customers through direct local field sales teams within each subsidiary, complemented by investor-relations-driven B2B communication via Nasdaq Helsinki announcements, annual and interim reports, and a Capital Markets Day. Customers include large fleet companies, logistics operators, mid-market transport entrepreneurs, and public sector fleet operators. Growth is driven by a combination of organic expansion within acquired entities, bolt-on M&A in fragmented Nordic and adjacent markets, and disciplined capital allocation supported by a EUR 140 million bank facility and EUR 50 million hybrid bond arranged in 2025.

Name

Relais Group

Legal name

Relais Group Oyj

Website

https://relais.fi/en/

Company type

Public

Founded year

1996

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Relais Group Oyj is a Helsinki-listed Nordic consolidator in the commercial vehicle aftermarket, operating 61+ workshops, branded vehicle products, and technical wholesale distribution across eight countries, serving fleet operators, transport companies, and workshops through 20+ acquired subsidiaries.

Ownership category

akta.pro rank

Product category

Commercial Vehicle Aftermarket Services

NAICS

Motor Vehicle Supplies and New Parts Merchant Wholesalers (42312), Motor Vehicle Parts (Used) Merchant Wholesalers (42314)

SIC

Wholesale-Motor Vehicle Supplies & New Parts (5013), Wholesale-Motor Vehicles & Motor Vehicle Parts & Supplies (5010), Motor Vehicle Parts & Accessories (3714)

akta.pro primary industry

Commercial Vehicle Aftermarket & Remanufacturing (Engines/Transmissions/Components) (IMACABAO)

akta.pro secondary industries

Rework, Repair & Refurbishment (Depot/Light Manufacturing) (TLAIAFAG), Cylinder Heads, Blocks & Rotating Assemblies Machining/Rebuild Services (TLAKALAG)

Keywords

• Commercial vehicle aftermarket
• Vehicle spare parts distribution
• Commercial vehicle workshop services
• Technical wholesale distribution
• Vehicle lighting products

Headquarters

HQ city

Vantaa

HQ country

Finland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Commercial Vehicle Services: Repair, maintenance, and service solutions for commercial vehicles and industrial equipment. Revenue generated from spare parts sales and maintenance work. Characterized by recurring customer relationships, stable demand, and strong cash flow generation.
2. Products and Solutions: Scalable branded products and solutions for vehicle users on international markets. Includes vehicle lighting, premium styling, and vehicle care products sold internationally under proprietary brands.
3. Technical Wholesale: Distribution of commercial and professional vehicle spare parts, vehicle equipment, and technical solutions. Revenue from wholesale distribution to workshops and vehicle service providers across Nordic and Baltic regions.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Relais Group operates as an acquisition-driven consolidator in the Northern European commercial vehicle aftermarket through three business areas: Commercial Vehicle Services (repair, maintenance, and servicing of commercial vehicles and industrial equipment via 61+ workshops), Products and Solutions (scalable branded vehicle products including lighting, styling, and care products sold internationally), and Technical Wholesale (distribution of commercial and professional vehicle spare parts, equipment, and technical solutions through Nordic and Baltic subsidiaries). The group acquires niche market leaders, retains their local brands and management, and operates them under a decentralized platform with shared resources and capital allocation.

Product overview

Relais Group is a leading European consolidator in the vehicle aftermarket, organized into three distinct business areas: Hyötyajoneuvopalvelut (Commercial Vehicle Services) provides repair, maintenance, and service solutions for commercial vehicles and industrial equipment through subsidiaries like Raskone, Team Verkstad, Team Verksted, Skeppsbrons, and JTC; Tuotteet ja ratkaisut (Products and Solutions) offers scalable branded products and solutions for vehicle users internationally through brands like Strands Group, Matro Group, and Qpax; and Tekninen tukkukauppa (Technical Wholesale) aggregates leading distributors of commercial vehicle spare parts, equipment, and technical solutions through brands like Startax, Huzells/TD Tunga Delar, LVD Lastvagnsdelar, Autodelar Sweden, Awimex, AutoMateriell, Nordic Lift, Lumise, Adita, and SecSet. The company operates as a platform-plus-subsidiaries model, with a decentralized approach where acquired companies retain their local brands and entrepreneurial culture while benefiting from group resources and scale.

Differentiator

Problem solved

Functional benefit

Brands

• Team Verkstad: Commercial vehicle maintenance and repair workshops in Finland and Sweden.
• Strands Group
• Raskone
• Skeppsbrons
• Startax
• Matro Group
• Team Verksted
• LVD Lastvagnsdelar
• Autodelar Sweden
• Adita
• Lumise
• HTD / Tunga Delar

Products and services

• Commercial Vehicle Services (Hyötyajoneuvopalvelut) Repair, maintenance, and service solutions for commercial vehicles and industrial equipment delivered through company-owned workshops including Raskone (Finland), Team Verkstad (Sweden), Team Verksted (Norway), Skeppsbrons, TJ Fordonsservice, and JTC. Targeted at large fleet companies, logistics operators, transport entrepreneurs, and public sector operators requiring reliable multi-brand commercial vehicle servicing.

Quantifiable outcome

• 19% net sales growth in 2025 (EUR 383.4M from EUR 322.6M)
• +2 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators6 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Mekonomen Group: Swedish-based consolidator in the Nordic auto and commercial vehicle aftermarket, operating a similar acquisition-led platform of workshops, parts distributors, and accessory brands. Direct comparable in geography, business model, and customer base.
• Bohnenkamp AG: German-based wholesaler of commercial vehicle tyres, wheels, and parts across Europe. Directly comparable in commercial vehicle parts wholesale, customer base (fleets and workshops), and European geographic focus.
• Fource Group (formerly CEBON / Dutch parts distributors): Dutch-based distributor of commercial vehicle and truck parts across the Benelux region. Direct peer in the technical wholesale of CV spare parts, with overlapping customers in the BeNeLux market that Relais entered via Matro.

Broad incumbents

• LKQ Corporation: Global auto and commercial vehicle parts distributor with significant European operations. Compares as a larger, broadly diversified incumbent operating in the same vehicle aftermarket parts distribution space, though with a wider geographic and product footprint.
• Alliance Automotive Group: Major European distributor of vehicle parts, tools, and workshop equipment across multiple countries. Overlaps with Relais's Technical Wholesale business in product categories, customer base (workshops), and distribution model.
• GroupAuto Union: International distribution network of vehicle parts and services for passenger cars and commercial vehicles. Comparable as a multi-country vehicle aftermarket distributor and workshop alliance, though organised as a cooperative rather than an acquirer.
• HELLA GmbH & Co. KGaA: German automotive supplier specialising in vehicle lighting and electronics, with significant aftermarket presence. Comparable to Relais's Strands subsidiary in the vehicle lighting product category, though HELLA is a much larger OEM-tier player.
• MAHLE GmbH: Global automotive parts manufacturer and aftermarket supplier, with a strong commercial vehicle engine and filter portfolio. Comparable as a CV parts supplier with both OEM and aftermarket exposure, though operating at significantly larger scale.
• SAF-HOLLAND SE: European manufacturer of trailer and truck components with global aftermarket distribution. Compares to Relais's commercial vehicle services and parts business in target customer (fleet operators, trailer workshops) and aftermarket focus.
• Continental Aftermarket: Aftermarket division of Continental AG, distributing CV and passenger vehicle parts, tyres, and workshop services across Europe. Comparable in commercial vehicle parts and workshop support, though Continental is a tier-1 OEM with a much broader portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries17 records

Funding overview

Funding rounds3 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Relais Group