Verston

What Verston does

Verston is Estonia's largest infrastructure construction and maintenance company, founded in 2010 by Veiko Veskimäe and Erkko Saluste and headquartered in Tallinn. The company operates across six integrated service lines: infrastructure construction (road building, excavation, surfaces), engineering construction (bridges, viaducts, retaining walls, pile work), year-round maintenance across approximately 8,220 km of Estonian state roads (44% of the national network) under five-year Transpordiamet contracts, quarrying and material supply from 30+ sites, road surface treatment, and operated-equipment rental. Customers are primarily Estonian and Baltic government agencies (Transpordiamet, Rail Baltic Estonia, municipalities, Riigi Kinnisvara, Tallinn Airport) procuring through public tender, with a growing private-sector line serving renewable energy developers such as Enefit Green and Utilitas on wind and solar park civil infrastructure. The technology stack centers on BIM-based project management and the Infrakit cloud platform, which integrates excavators and bulldozers for 3D model delivery, remote telemetry, and productivity measurement; proprietary engineering techniques include vertical drainage membranes and geosynthetic reinforcement for peat-bog terrain that avoided 550,000 m³ of excavation at the Sopi-Tootsi wind farm.

Verston generates revenue primarily through project-based construction contracts (one-time, multi-year, tens to hundreds of millions of euros per project) complemented by recurring multi-year maintenance services and transactional material sales from its quarry network. Pricing in the B2G channel is set through competitive public procurement with scope-and-quality-based evaluation, while private-sector projects are quoted on specifications. The company employs 330 people (end-2025), operates seven regional centers plus a Tallinn headquarters, and holds ISO 9001, ISO 14001, and ISO 45001 certifications. Verston Eesti OÜ reported 2025 revenue of 115.2 million EUR (53% YoY growth) and net profit of 3.45 million EUR against 75 million EUR revenue and 1.6 million EUR profit in 2024. The group operates through parent Verston Group OÜ and in May 2026 acquired energy-infrastructure specialist Smartecon OÜ (approximately 35 million EUR revenue), with active Latvian wind-park projects demonstrating early cross-border capability and a stated intent to expand into other European markets.

Name

Verston

Legal name

Verston Eesti OÜ

Website

https://verston.ee

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

251–500 employees

Short description

Verston is Estonia's largest infrastructure construction and maintenance company, maintaining 8,220 km (44%) of state roads and delivering road, bridge, and rail civil works for government agencies and renewable-energy developers across the Baltics.

Ownership category

akta.pro rank

Product category

Infrastructure Construction Services

NAICS

Highway, Street, and Bridge Construction (23731)

SIC

Heavy Construction Other Than Bldg Const - Contractors (1600)

akta.pro primary industry

Bridges, Viaducts & Elevated Guideway Construction (IMAFAFAF)

akta.pro secondary industries

Railway Track & Civil Works Construction (Ballast, Slab Track, Alignment) (IMAFAFAA), Culverts, Bridges & Cross-Drainage Structures (Hydraulic Capacity & Rehabilitation) (EUANAEAC)

Keywords

• Infrastructure construction services
• Road maintenance services
• Civil engineering construction
• Construction materials supply
• Road surfacing treatments

Headquarters

HQ city

Tallinn

HQ country

Estonia

HQ region

Europe

Offices9 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Infrastructure construction projects: One-time project-based revenue from construction of roads, railways, bridges, viaducts, wind farm and solar park infrastructure. Projects are secured through public procurement (government tenders) and private sector contracts. Revenue recognition occurs over project duration with typical project sizes ranging from tens of millions to hundreds of millions of euros.
2. Road and infrastructure maintenance contracts: Multi-year service contracts for state road maintenance covering snow removal, ice control, summer maintenance, and repairs. Five-year contracts with Estonian Transport Administration covering defined geographic regions. Revenue is recurring based on service levels and area covered.
3. Material production and sales: Production and sale of construction materials including sand, gravel, crushed gravel, and crushed stone from over 30 quarries across Estonia. Materials used for company projects and sold to external customers. Revenue is transactional based on volume sold.
4. Equipment rental: Rental of construction equipment including asphalt milling machines (Wirtgen W 120 Fi) and tracked loaders (Takeuchi TL12-2) with operators. Revenue generated through rental fees.
5. Surface treatment (pindamine) services: Road surface treatment services including single, 1.5, and double surface dressing, as well as ridge gravel surfacing for dust-free road surfaces.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels8 records

Core offering

Verston provides construction, engineering, and maintenance services for roads and related infrastructure, including road building, bridges and viaducts, year-round road maintenance across approximately 8,220 km of Estonian state roads, production of construction materials from more than 30 quarries, road surfacing treatments, and rental of construction equipment with operators. The company also executes renewable energy site infrastructure (wind farm access roads, turbine foundations) and major transport projects such as Rail Baltica.

Product overview

Verston is a unified infrastructure construction and maintenance services company (not a software/SaaS product company). The company operates as a single integrated business offering six interconnected service lines: (1) Infrastructure Construction (taristuehitus) covering road building and related works, (2) Engineering Construction (insenerehitus) covering bridges, viaducts, and technical structures, (3) Maintenance (korrashoid) covering year-round road maintenance across ~8,220 km of state roads, (4) Quarrying/Materials (mäendus) covering production of construction materials from 30+ quarries, (5) Surfacing (pindamine) covering road surface treatments, and (6) Equipment Rental (ehitusmasinate rent) covering construction equipment with operators. Projects include Rail Baltica railway infrastructure construction, wind farm access roads and platforms, and major highway upgrades. Services are delivered through regional centers and a 330-person workforce.

Differentiator

Problem solved

Functional benefit

Products and services

• Infrastructure Construction (Taristuehitus) Road and infrastructure construction services including road building, dust-free surfaces, asphalt concrete surfaces, excavation and filling, sand and gravel bases, milled asphalt surfaces, and parking lot and plaza construction, delivered to government agencies and private clients.
• Engineering Construction (Insenerehitus) Engineering construction services for infrastructure facilities including bridge construction, viaducts, culverts and passages, retaining walls, pile work, concrete structures, and technically complex infrastructure constructions, delivered to public-sector and private clients.
• Road Maintenance (Korrashoid) Year-round road maintenance services including snow and ice removal, snow clearing, gravel road maintenance, pothole and crack repair, dust control, shoulder maintenance, road surface and edge maintenance, and traffic management equipment maintenance, delivered under multi-year contracts across approximately 8,220 km of Estonian state roads.
• Quarrying and Construction Materials (Mäendus) Production and sale of construction materials including sand, gravel, crushed gravel, and aggregate from more than 30 quarries across Estonia, plus material transport services, supplying Verston's own projects and external customers.
• Road Surfacing (Pindamine) Road surface treatment services including surface dressing, surface treatment of milled bases, gravel road surfacing, single, 1.5-course, and double-course treatment, and ridge chipping for dust-free road surfaces, delivered to public and private clients.
• Construction Equipment Rental (Ehitusmasinate rent) Rental of construction equipment with operators, including Wirtgen W 120 Fi asphalt milling machine and Takeuchi TL12-2 tracked loader with 3D attachments, available to external clients through direct inquiry.

Quantifiable outcome

• Reduced CO2 emissions by approximately 15,000 tons through innovative construction methods at Sopi-Tootsi wind farm by avoiding 550,000 m3 of soil excavation and transportation.
• +4 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• Smartecon OÜcoreStrategic or Co-development Partner · 28 May 2026Verston Group acquired 100% stake in Smartecon, an energy infrastructure company founded in 2012 specializing in design, construction, and maintenance of energy production and storage solutions. Smartecon has built over 1,000 solar power plants across five countries and employs 32 people with 2025 revenue of approximately 35 million EUR. The acquisition adds capability for Verston to build comprehensive energy infrastructure projects in the region and beyond. Smartecon founders Magno Kure and Hannes Aus become minority shareholders in Verston Group.
• Järelpinge Inseneribüroo (Järelpinge Engineering Bureau)coreStrategic or Co-development PartnerLong-standing joint venture partner for Rail Baltica infrastructure projects. The partnership has delivered multiple viaducts, bridges, and railway structures including Alu viadukt, Juula viadukt, Kodila river railway bridge, and multiple sections of Rail Baltica Raplamaa and Harjumaa mainline construction. Combined expertise in civil engineering and infrastructure construction.
• KMG Inseneriehituse ASminorImplementation/ SI/ Consulting PartnerPartner for Tallinn Airport air traffic area expansion project, working together on runway extension and related infrastructure.
• Lääne TeedcoreChannel Partner/ Reseller/ DistributorCooperation partner for Pärnumaa state road maintenance. Verston handles maintenance in cooperation with Lääne Teed in Pärnumaa region.
• Kraure OÜminorChannel Partner/ Reseller/ DistributorSubcontractor for ice road maintenance, specifically for Rohuküla-Sviby ice road section. Verston managed overall operations while Kraure OÜ handled specific maintenance tasks.
• NOBEminorStrategic or Co-development PartnerConstruction partner for Tārgale wind park in Latvia, working together with Connecto Eesti and local Latvian companies to build approximately 120,000 m2 of gravel roads, turbine foundations, and substation surfaces.
• Connecto EestiminorStrategic or Co-development PartnerConstruction partner for Tārgale wind park in Latvia, working together with NOBE on infrastructure for 14 Vestas turbines producing up to 155 GWh annually.
• NOBEminorStrategic or Co-development PartnerConstruction partner for Sopi-Tootsi wind and solar park, building turbine and solar infrastructure in cooperation.
• Connecto EestiminorStrategic or Co-development PartnerConstruction partner for Sopi-Tootsi wind and solar park, contributing to Estonia's largest renewable energy project.
• Eversheds SutherlandminorImplementation/ SI/ Consulting PartnerLegal advisor for bond issuance transaction, providing legal counsel for the 6 million EUR bond offering.
• Infragate EestiminorImplementation/ SI/ Consulting PartnerConstruction supervision for Sopi-Tootsi solar park section.
• TeloraminorImplementation/ SI/ Consulting PartnerConstruction supervision for Sopi-Tootsi wind park section.

Scale indicators12 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• AS TREV-2 Grupp: Estonian infrastructure construction group with road, bridge and earthworks capabilities that competes head-to-head with Verston for Transpordiamet tenders and Rail Baltica civil-works packages. Closely comparable in size, services mix and customer base.
• Nordecon AS: Major Estonian construction group publicly listed on the Tallinn Stock Exchange, operating across building, infrastructure and civil-engineering construction in Estonia and neighbouring markets. Direct competitor for both Verston's road-construction and public-procurement contracts and the most directly comparable Estonian infrastructure peer.
• KMG Inseneriehituse AS: Estonian civil-engineering and infrastructure construction firm with road, bridge and earthworks capabilities. Listed as a Verston project partner (e.g., Tallinn Airport expansion) and an active competitor for infrastructure tenders across Estonia.
• Colas Eesti: Estonian affiliate of the French Colas Group, focused on road construction, surfacing and bituminous treatments. Closely comparable in service mix (asphalt, surface dressing, road rehabilitation) and a credible competitor for road-and-pavement tenders.
• Lääne Teed OÜ: Estonian road maintenance contractor already operating as Verston's cooperation partner for the Pärnumaa maintenance region. Directly comparable in road maintenance scope, geographies and customer (Transpordiamet) and competes for additional regional contracts.

Broad incumbents

• YIT Eesti AS: Estonian subsidiary of Finnish construction group YIT, active in road, street and infrastructure construction as well as residential development. Competes with Verston in public road tenders and brings broader Nordic group capabilities and capital.
• Merko Ehitus Eesti (Merko Ehitus AS): Largest Estonian construction group, listed on Tallinn Stock Exchange, covering buildings, infrastructure and real-estate development. Operates in the same Estonian public-procurement market with overlapping road/bridge and maintenance capabilities, but on a substantially larger and more diversified scale than Verston.
• NCC Infrastructure (NCC AB): Nordic-based heavy/civil engineering contractor active across road, bridge and rail infrastructure in the Nordics and Baltics. Provides an international public-comparable for Verston's road and rail infrastructure business mix and growth trajectory.
• Skanska Eesti AS: Estonian arm of global infrastructure and construction group Skanska, participating in road, bridge and rail-infrastructure tenders. Brings international scale and balance sheet but competes in a narrow subset of the tenders Verston targets.

Regional players

• Trev-2 Ehitus OÜ (regional maintenance): Regional Estonian road maintenance and small-scale construction contractor active in specific counties; competes with Verston's seven maintenance regions for periodic Transpordiamat regional tender awards.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/VerstonEhitus
• LinkedInlinkedin.com/company/verston
• Instagraminstagram.com/verston__

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Verston