Onvest

What Onvest does

Onvest Oy is a Finnish family-owned holding and investment company headquartered at Teollisuuskatu 33, Helsinki, with operating roots tracing back to 1913 and its current parent structure established in 1997 and restructured via a 2018 demerger. The group operates across four business areas: Real Estate (owning, developing, and leasing nine commercial properties totaling 87,500 sqm of rentable area across Greater Helsinki, Hattula, Järvenpää, Vantaa, Seinäjoki, and Uusikaupunki, with a 9.7-year WAULT), Steel Services through wholly-owned Feon Oy (a Hattula-based service center distributing standard and special steel grades to machine/equipment manufacturers and construction companies), Wood Construction through wholly-owned OnWood Oy (four indoor factories in Salo, Hämeenlinna, Halsua, and Jokioinen producing day-care centers, schools, care homes, and commercial premises), and Industrial Holdings (a 4.4% stake in Harvia Oyj, majority control of Puurakentajat Group Oy, and a minority position in Blastr Green Steel).

The business model combines recurring rental income from long-duration commercial leases, transaction-based steel distribution revenue, project-based wood construction revenue, and capital returns (dividends, appreciation, and board influence) from industrial holdings. Onvest reports group revenue exceeding EUR 300 million and a balance sheet above EUR 400 million, with 200+ employees. Distribution is conducted entirely through direct B2B relationships in the Finnish market, with no public pricing, no consumer-facing product, and no proprietary technology platform described in the available material.

The strategy emphasizes multi-generational ownership, capital intensity (EUR 400M+ balance sheet enabling self-funded acquisitions and developments), and diversification across property types, industrial verticals, and holding structures. The company has demonstrated active portfolio management through recent divestments (Mittalinja to Verne, two additional properties in March 2025) and acquisitions (Puurakentajat in 2023, Blastr Green Steel in 2025, Kirkkonummi logistics centre in 2026, Varte partnership in 2025), alongside organic development of a 15,000 sqm Business Park in Helsinki. Onvest explicitly targets Finnish market leadership in steel services and wood construction and intends to grow the number of industrial holdings over time.

Name

Onvest

Legal name

Onvest Oy

Website

https://onvest.fi

Company type

Private

Founded year

1913

Operating status

Operating

Headcount range

101–250 employees

Short description

Onvest Oy is a Finnish family-owned holding company owning and leasing nine commercial properties totaling 87,500 sqm, operating steel services via Feon Oy, manufacturing wooden buildings through OnWood Oy and Puurakentajat Group Oy, and holding industrial equity stakes including in Harvia Oyj.

Ownership category

akta.pro rank

Product category

Diversified Industrial Holding Company

NAICS

Services to Buildings and Dwellings (5617)

SIC

Wholesale-Metals Service Centers & Offices (5051), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Steel Joists, Joist Girders & Decking (IMADACAC)

akta.pro secondary industry

OSB (Oriented Strand Board) Manufacturing (IMAMACAC)

Keywords

• Commercial real estate leasing
• Steel service distribution
• Wood construction manufacturing
• Industrial investment holding
• Family-owned conglomerate

Headquarters

HQ city

Helsinki

HQ country

Finland

HQ region

Europe

Offices10 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Real Estate Leasing and Development: Onvest owns, develops, and leases commercial real estate properties (office, industrial, logistics, and retail) in Finland. Revenue is generated through rental income and property value appreciation. Real estate holdings include 9 properties with 87,500 sqm of rentable area across Greater Helsinki, Hattula, Järvenpää, Seinäjoki, and Uusikaupunki.
2. Steel Services (Feon Oy): Feon Oy distributes standard and special steel grades, construction systems, and pre-treatment services to machine/equipment manufacturers and steel/metal construction companies. Feon operates a Steel Services Centre in Hattula. Revenue was EUR 170 million in financial year 2021.
3. Industrial Holdings Returns: Onvest holds minority and majority stakes in Finnish industrial companies (Harvia Oyj at 4.4%, OnWood Oy at 100%, Puurakentajat Group Oy as main shareholder). Returns generated through dividends, board influence, capital appreciation, and intra-group synergies.
4. Wood Construction (OnWood Oy): OnWood Oy builds wooden structures for the public sector and businesses, including day-care centers, schools, care homes, tourism destinations, and commercial premises. Factories located in Salo, Hämeenlinna, Halsua, and Jokioinen. All buildings are manufactured entirely indoors. Buildings can be relocated if needed.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels3 records

Core offering

Onvest is a Finnish family-owned holding company that owns, develops, and leases commercial real estate (9 properties, ~87,500 sqm), distributes steel products and provides steel services through its wholly-owned subsidiary Feon Oy, and builds wooden structures (day-care centers, schools, care homes, commercial premises) through its wholly-owned subsidiary OnWood Oy. The group also holds strategic minority and majority stakes in Finnish industrial companies including Harvia Oyj and Puurakentajat Group Oy.

Product overview

Onvest is a Finnish family-owned investment company with roots dating back over 100 years. The company operates across four main business areas: Real Estate Business (owning, developing, and leasing commercial properties in Finland), Steel Services through its wholly-owned subsidiary Feon Oy, Wood Construction through its wholly-owned subsidiary OnWood Oy, and Industrial Holdings including Harvia Oyj. Onvest also holds stakes in Puurakentajat Group Oy and Blastr Green Steel. The company focuses on long-term ownership and development of Finnish industrial companies and properties.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Real Estate Leasing and Development Long-term commercial leasing of office, industrial, logistics, and retail premises in Finland for business tenants, with a portfolio WAULT of 9.7 years. Targets enterprise and mid-market tenants in the Greater Helsinki Area and secondary Finnish cities including Hattula, Järvenpää, Seinäjoki, Uusikaupunki, and Vantaa.
• Feon Steel Distribution and Services Wholly-owned steel service centre distributing standard structural steel grades, special steel grades, innovative construction systems, and pre-treatment services to machine and equipment manufacturers and steel/metal construction companies in Finland. Operates from the Steel Services Centre in Hattula, generating EUR 170 million revenue in 2021.
• OnWood Industrial Wood Construction Industrial wood construction services for the public sector and businesses, producing day-care centers, schools, care homes, tourism destinations, and commercial premises. Uses an indoor manufacturing method that protects from weather, ensures healthy indoor air quality, and enables building relocation.

Quantifiable outcome

• Feon Oy generated EUR 170 million in revenue and employed 174 people in financial year 2021.
• +3 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• Varte OycoreStrategic or Co-development Partner · 20 October 2025Varte and Onvest agreed on property transactions. Onvest acquired a ~3,000 sqm business premises built by Varte in Järvenpää, housing Varte's equipment centre. The next phase involves developing two business premises projects in the Helsinki metropolitan area, with construction planned for H1 2026. Varte Group is a Finnish family-owned building construction company with over 200 employees, headquartered in Kouvola with offices in Lahti, Turku, and Lappeenranta.
• Puurakentajat Group OycoreStrategic or Co-development Partner · 23 January 2023Onvest increased its stake to become the main shareholder of Puurakentajat Group Oy (Finnish solid wood construction specialist) by acquiring the majority from founder Jyrki Huttunen. The transaction supports Puurakentajat's growth in response to increasing demand for ecological building materials and upcoming stricter environmental regulations in Finland.
• Verne (Ardian)minorOthersOnvest sold its Mittalinja property in Vantaa to Verne (data centre operator backed by French private equity firm Ardian) at the end of December 2024. The 8-hectare plot was previously Onvest's headquarters site. Verne plans to develop and expand the entire plot for data centre operations.
• Noste.iominorStrategic or Co-development PartnerOnvest acquired a new logistics centre being built for the Helsinki Shipyard from Noste.io. The property is located in the Sundsberg business area in Kirkkonummi. The project is under construction with completion expected end of the current year. SSA Toimitilat Oy is responsible for construction.
• SSA Toimitilat OyminorOthersSSA Toimitilat Oy is the construction contractor responsible for building the Kirkkonummi logistics centre developed by Noste.io and acquired by Onvest.

Scale indicators8 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• SSAB: Largest Nordic steel producer with operations across heavy plate, strip, and special steels. Broader incumbent than Feon in the same Finnish/Nordic steel industry, including a separate green steel venture (HYBRIT) that overlaps with Blastr's positioning.
• Lassila & Tikanoja: Finnish-listed diversified environmental and facility services holding. Comparable as a Finnish long-standing services/industrial group operating across multiple B2B segments with a similar diversified Finnish operating footprint.
• Huhtamäki: Finnish-headquartered global packaging manufacturer with multiple operating segments and factories. Comparable as a Finnish-rooted diversified industrial group with multi-decade family heritage and similar scale (~200+ Finnish employees, multi-business portfolio).
• Outokumpu: Finnish-headquartered global stainless steel manufacturer. Broader incumbent in the Finnish metals industry with overlapping customer base in machine and equipment manufacturing, comparable to Feon's downstream customer segments.
• Caverion: Finnish building solutions and facility services provider serving commercial, industrial, and public-sector real estate. Comparable to Onvest's commercial real estate leasing business from a customer-overlap and Finnish real estate operator perspective.
• Kojamo: Finland's largest residential REIT, owner and operator of rental apartment properties. Comparable to Onvest's commercial real estate ownership/leasing business model from a Finnish property operator perspective, though residential rather than commercial focus.

Direct peers

• Honkarakenne: Finnish manufacturer of solid wood log homes and timber buildings, exporting internationally. Direct competitor to OnWood in the wooden building segment, with comparable modular factory-based construction and emphasis on healthy, sustainable indoor environments.
• Fiskars Group: Finnish family-controlled (Ehrnrooth family) diversified goods group with century-long heritage, operating across multiple consumer and industrial categories. Most structurally comparable to Onvest's family-owned, multi-business Finnish industrial holding model.
• Tibnor: Nordic steel service centre and metals distributor serving manufacturing and construction customers with standard and special steel grades plus pre-treatment services. Direct peer to Feon Oy in steel distribution and processing business model.
• Ahlstrom Holding: Finnish-controlled specialty materials manufacturer (fibers, filtration, specialty papers) with multi-business portfolio. Comparable as a Finnish-rooted industrial holding with diversified operating subsidiaries and a long operating history.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments2 records

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

Frequently asked questions about Onvest