ETH Group

What ETH Group does

ETH Group Oy is a privately held Finnish industrial maintenance services provider founded in 2006 and headquartered in Kauttua, Eura. The company delivers multi-discipline maintenance, installation, and project services to industrial manufacturers, power plants, district heating operators, and municipal utilities across Finland, with over 200 professionals operating from six offices. Its service portfolio spans mechanical maintenance, electrical automation (Siemens and Omron PLCs), refrigeration and HVAC, welding (ISO 3834-2 certified), pressure equipment (PED A2), steel structures (EN 1090 EXC-1/EXC-2), valve and pump maintenance, and industrial piping, supported by an in-house machine workshop for pre-fabrication and a 24/7 on-call emergency hotline.

The company's revenue model is anchored by tailored service agreements sold as one-stop-shop outsourcing contracts ranging from specific task outsourcing to total maintenance outsourcing, supplemented by project-based deliveries and equipment sales (including authorized dealership of Scanoffice heat pumps and authorized service for Grundfos and Xylem pumps). Customers include Tata Steel, Fortum, Neste, Yara, Turku Energia, Walki Westpak, and Linde Gas, with long-tenured relationships spanning up to 15 years and several originating in 2006-2007. Acquisition is driven primarily by direct enterprise field sales and participation in Finnish public procurement tenders (kilpailutus), with strong employer branding on LinkedIn and a dedicated careers page supporting continuous recruitment in a tight industrial labor market.

The business is run by CEO Kristo-Pekka Niemi with a leadership team spanning project delivery, HSEQ, cold technologies, and maintenance management. ETH has received a Dun & Bradstreet AAA credit rating (2022), scored 447/450 on its most recent Kiwa Inspecta HSEQ audit, and was named Yara Safety Contractor of the Year 2025. Revenue is reported at approximately EUR 32 million.

Name

ETH Group

Legal name

ETH Group Oy

Website

https://eth.fi

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

101–250 employees

Short description

ETH Group Oy is a privately held Finnish industrial maintenance services provider delivering mechanical, electrical, automation, refrigeration, and piping maintenance to industrial plants, power stations, district heating operators, and municipalities across Finland, with over 200 professionals and EUR 32M in revenue.

Ownership category

akta.pro rank

Product category

Industrial Maintenance Services

NAICS

Facilities Support Services (561210), Facilities Support Services (56121)

SIC

Services-Facilities Support Management Services (8744)

akta.pro primary industry

Turnaround, Outage & Shutdown Maintenance Services (EUAEAGAK)

akta.pro secondary industries

Thermal Power Plant O&M (Coal, Gas, Oil) (EUAEAGAA), Refinery & Petrochemical O&M / Maintenance Outsourcing (EUAEAGAG)

Keywords

• Industrial maintenance services
• Plant maintenance outsourcing
• Power plant maintenance
• Annual shutdown services
• Industrial service agreements

Headquarters

HQ city

Kauttua

HQ country

Finland

HQ region

Europe

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Maintenance Services (Reactive & Preventive): Core revenue stream from reactive and preventive maintenance services across industrial mechanical, electrical, automation, and refrigeration systems. Billed through service agreements or per-project. Services include pump, valve, conveyor, heat exchanger, and pressure equipment maintenance. Provides recurring revenue through long-term service agreements with key clients.
2. Service Agreements (Outsourcing Contracts): Tailored service agreements ranging from single-task outsourcing to comprehensive total maintenance outsourcing. Includes one-luukku (one-stop-shop) delivery. Recurring multi-year contracts with enterprises such as Tata Steel, Fortum, Neste, Yara, and Turku Energia. Forms the backbone of predictable recurring revenue.
3. Project Deliveries and Installations: Project-based revenue from equipment and material deliveries, machine installations, automation system installations, and investment projects. Includes turn-key projects from design through commissioning. One-time/transaction-based alongside recurring service revenue.
4. Refrigeration Equipment Sales and Rental: Sales of refrigeration equipment (Mitsubishi Electric, Samsung heat pumps; brand-agnostic refrigeration units) and rental of mobile cold storage units and refrigerated trailers. Also includes Scanoffice heat pump product sales as authorized dealer.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

ETH Group Oy provides industrial maintenance, annual shutdown services, and project delivery for industrial plants and power stations across Finland. Their core offering combines reactive and preventive maintenance, customized service agreements (from task-specific outsourcing to total maintenance outsourcing), and turn-key project deliveries covering mechanical, electrical, automation, refrigeration, piping, steel structure, and valve/pump disciplines. Services are delivered by over 200 professionals through a one-stop-shop model, supported by 24/7 emergency response and an in-house CMMS for asset management.

Product overview

ETH Group is an industrial maintenance services company offering a comprehensive portfolio of maintenance, installation, and project delivery services for all industrial sectors across Finland. The core offering consists of maintenance and annual services, service agreements, and project deliveries, supported by specialized service modules including machine installations, cold technologies, electric automation, steel structures, valve maintenance, pump maintenance, and industrial piping. The company operates as a one-stop-shop provider, with services ranging from outsourcing specific maintenance tasks to complete maintenance operations under customized service agreements. All services are delivered by over 200 professionals across multiple locations in Finland.

Differentiator

Problem solved

Functional benefit

Products and services

• Maintenance and Annual Service (Kunnossapito ja vuosihuollot)
• Service Agreements (Palvelusopimukset)
• Project Deliveries (Projektitoimitukset)
• Machine and Device Installations (Kone- ja laiteasennukset)
• Cold Technologies / Refrigeration Services (Kylmätekniikka)
• Electric Automation Services (Sähköautomaatio)
• 24/7 On-Call Maintenance Service (24/7 Kunnossapidon päivystyspalvelu)

Quantifiable outcome

• Zero accidents during Yara Uusikaupunki annual shutdown (2025)
• +4 more outcomes

Named customers9 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

Feature7 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Rauman Energia OycoreStrategic or Co-development Partner · 1 May 2026Rauman Energia Oy selected ETH Group as its district heating maintenance partner. With the partnership agreement, Rauman Energia's maintenance installers transferred to ETH Group. ETH now handles district heating maintenance, inspections, and meter installations, strengthening ETH's role in Satakunta region.
• XylemcoreTechnology or Integration · 1 January 2025ETH Group Oy became an authorized service partner in Xylem's authorized service partner network covering Southwest Finland. ETH strengthens Xylem's service capability in Varsinais-Suomi and Satakunta regions for maintenance of pumps and mixers and availability of spare parts. Selection involved rigorous audit of ETH's operating methods, facilities, equipment, and safety culture.
• Biolan EkoasuminenminorOthers · 1 August 2023ETH Group partnered with Biolan Ekoasuminen to install solar panels on the rooftops of two properties in Eura. Combined capacity of 100 kilowatts installed, covering approximately 500 square meters of panels. Project improved ETH's environmental footprint and reduced carbon emissions.
• Turun Seudun Puhdistamo OyminorStrategic or Co-development Partner · 1 August 2023Maintenance services partnership won through public procurement tender. Contract implementation began January 2024. ETH provides comprehensive maintenance services for Turun Seudun Puhdistamo's wastewater treatment facilities.
• Yara Europe (Uusikaupunki)coreStrategic or Co-development Partner · 1 January 2023ETH Group has been a long-standing cooperation partner at Yara's Uusikaupunki production site, providing mechanical additional resources for installations and welding. Contract renewed for 2023-2024 and again recognized as Safety Contractor of the Year 2025. Services include safety valve maintenance, repair welding, and demanding maintenance tasks during annual shutdowns.
• Neste OyjcoreStrategic or Co-development Partner · 1 December 2020Multi-year agreement for total maintenance outsourcing of Neste's Naantali terminal operations from April 2021. 18 personnel transferred to ETH Group via asset deal (liikkeen luovutus). ETH responsible for process maintenance development and efficiency improvement. Equipment also transferred to ETH.
• ScanofficeminorChannel Partner/ Reseller/ DistributorETH Group is an authorized Scanoffice retailer and dealer for heat pump products (residential and commercial HVAC). Part of ETH's refrigeration and HVAC service offering.
• GrundfoscoreTechnology or IntegrationETH Group is an authorized maintenance partner for Grundfos pumps, providing repair, service, installation, and spare parts for Grundfos pump models across customer sites.
• Fortum (Heating and Cooling)coreStrategic or Co-development Partner15-year partnership with Fortum covering mechanical maintenance at Espoo and Naantali power plants. Services include heat exchanger maintenance, heat production pipework, welding and installation projects. ETH participated in Fortum's 2021 public procurement and won through competitive process. Cooperation ongoing as Fortum transitions to carbon-neutral district heating (Espoo Clean Heat project).
• Kiwa InspectacoreTechnology or IntegrationKiwa Inspecta conducted ETH Group's periodic HSEQ audit covering ISO 9001, ISO 3834-2, and EN 1090 standards, and also provides third-party verification for pressure equipment inspections (e.g., safety valve testing).

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Konecranes: Finland-headquartered global leader in lifting equipment and port solutions with a substantial industrial service business (preventive maintenance, modernization, field service). Operates a comparable multi-country industrial-maintenance field-service model on industrial sites, though anchored to its own equipment base.
• ISS A/S: Denmark-headquartered global facility services company providing integrated facility maintenance, technical services, and industrial support services. Much larger scale and broader scope than ETH but directly competes for outsourced industrial maintenance contracts at industrial and commercial customers in the Nordic region.
• Wärtsilä: Finland-headquartered global leader in marine and energy engines with a substantial power-plant services business operating lifecycle service agreements with similar energy customers. Larger and equipment-OEM-based but directly competes in O&M services for power generation and comparable in geographic footprint.
• Sodexo: France-headquartered global facility services and technical services provider with industrial maintenance offerings across energy, manufacturing, and infrastructure. Much larger scale and broader service portfolio but addresses the same outsourced industrial maintenance opportunity set as ETH across Europe.
• Metso: Finland-headquartered global leader in mining, aggregates, and metals processing equipment with a substantial lifecycle services business (parts, maintenance, field service). Operates a comparable multi-discipline service model on industrial sites for process-industry customers, though broader in equipment range and global scope than ETH.

Direct peers

• Bravida: Sweden-headquartered Nordic technical installation and services provider with similar industrial, energy, and infrastructure maintenance offerings. Serves comparable industrial customer segments across the Nordics and represents the closest publicly listed comparable in business model, customer mix, and service-agreement structure.
• Caverion: Finland-headquartered Nordic provider of building solutions and industrial services including mechanical, electrical, automation, and industrial maintenance. Operates across the same Finnish industrial customer base as ETH and is the most directly comparable publicly listed peer at substantially larger scale (~€2B+ revenue).
• Bilfinger: Germany-headquartered industrial services provider delivering maintenance, O&M, and engineering services to process-industry customers (refineries, chemical plants, power). Directly comparable on process-industry O&M outsourcing and service-agreement model serving much the same European industrial customer set.
• Spie: France-headquartered multi-technical industrial service provider with mechanical, electrical, HVAC, and industrial maintenance offerings to industrial and energy customers across Europe. Same multi-discipline one-stop-shop service-agreement model as ETH applied to a comparable European industrial customer base.

Regional players

• Coor Service Management: Sweden-headquartered Nordic facility services and integrated facility management provider delivering maintenance, workplace services, and technical services to industrial and commercial customers across the Nordics. Operates the same one-stop-shop service-agreement model as ETH but at Nordic (rather than Finland-only) geography.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/ETHGroupOy
• LinkedInlinkedin.com/company/eth-group-oy

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

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 ETH Group