AVH Grupp AS

What AVH Grupp AS does

AVH Grupp AS is a privately held Estonian industrial holding company headquartered in Tallinn that manages and operates a diversified portfolio across four verticals: sustainable energy, metal industry, oil shale chemistry, and real estate. The company was founded in 1998, with its real estate subsidiary OmaKoduMaja AS entering the property market in 2002. Through its core operating subsidiaries, AVH Grupp owns and controls AS Alexela (a sustainable energy provider and the largest revenue contributor, offering electricity, gas, heating, and mobility services with stated carbon-neutrality ambitions by 2030), the Bestnet Group (metal operations including the TIKI and AKU trailer brands and metal surface coating services), B2G Grupp OÜ together with Kiviõli Keemiatööstuse OÜ (oil shale chemistry and sustainable valorization), and OmaKoduMaja AS (commercial and residential real estate development in Tallinn and Harju County). Additional energy-adjacent assets include Paldiski LNG/Balti Gaas, Eesti Biogaas, and Hamina LNG, plus the Alexela rePower innovation pipeline targeting solar, methanol, hydrogen, CO2 capture, and e-fuels.

The group generated 620 million EUR in standalone turnover in 2024 and 675 million EUR when consolidated with affiliates, employing 700+ staff at the parent level and 1,200+ across the wider group. It serves B2B and consumer customers primarily in Estonia, with a smaller but explicit presence in Latvia and Finland. Revenue mechanics are industrial and B2B-driven: hardware and energy sales through Alexela, metal products and coating services through Bestnet, oil-shale-derived chemistry products through B2G Grupp, and real estate sales/leases through OmaKoduMaja. Pricing is quote-based and not publicly disclosed.

AVH Grupp's go-to-market is regional direct sales across the Baltic and Scandinavian markets, with physical infrastructure (LNG terminals, energy storage, gas stations, industrial coating facilities, and real estate assets) functioning as the primary moat. The group has invested 11.8 million EUR (standalone) and 16.5 million EUR (with affiliates) in 2024, with a significant portion directed at the Alexela rePower innovation portfolio. In April 2026 the group completed the divestiture of its remaining 50% stake in AS Õhtuleht Kirjastus to AS Ekspress Grupp, signaling active portfolio rationalization away from non-core media exposure. Leadership is structured as a Management Board led by CEO Veiko Räim (with Veiko Vetto as additional Management Board member) and a six-member Supervisory Board chaired by Heiti Hääl.

Name

AVH Grupp AS

Legal name

AVH Grupp AS

Website

https://avh.ee

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

1–10 employees

Short description

AVH Grupp AS is a privately held Estonian industrial holding company operating across four verticals — sustainable energy (Alexela), metal industry (Bestnet, TIKI/AKU), oil shale chemistry (B2G Grupp), and real estate (OmaKoduMaja) — serving B2B and consumer customers in Estonia, Latvia, and Finland.

Ownership category

akta.pro rank

Product category

Diversified Industrial Holding

NAICS

Management of Companies and Enterprises (55111), Management of Companies and Enterprises (551), Electric Power Generation, Transmission and Distribution (2211)

SIC

Gas & Other Services Combined (4932), Oil & Gas Field Services, Nec (1389)

akta.pro primary industry

Sustainability, ESG & Climate Risk Advisory (BPAHAJAH)

akta.pro secondary industry

ESG/Sustainable Investment Advisory (FSAEAAAJ)

Keywords

• Sustainable energy services
• Metal surface coating
• Oil shale chemistry
• Industrial holding group
• Real estate development

Headquarters

HQ city

Tallinn

HQ country

Estonia

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Energy Sector Revenue: Revenue from Alexela energy operations including sustainable energy services, solar installations, and related energy products across Estonia, Latvia, and Finland.
2. Metal Industry Revenue: Revenue from Bestnet group metal operations including TIKI and AKU trailers and metal surface coating services.
3. Chemical Industry Revenue: Revenue from B2G Grupp oil shale chemistry operations including Kiviõli Keemiatööstuse OÜ.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels2 records

Core offering

AVH Grupp AS is an Estonian holding company that operates through subsidiaries in four main sectors: sustainable energy services (via Alexela, including solar parks, LNG, biogas, and e-fuels innovation), metal industry (via Bestnet Group, producing TIKI and AKU trailers and metal surface coating services), chemical industry (via B2G Grupp, focused on sustainable oil shale chemistry and valorization), and real estate development (via OmaKoduMaja, developing commercial and residential premises in Tallinn and Harju County). The company functions as a diversified industrial and investment holding group serving the Baltic and Scandinavian markets.

Product overview

AVH Grupp AS is an Estonian holding company operating across four main business segments: energy (through Alexela and Alexela rePower), metal industry (via Bestnet Group), chemical industry (through B2G Grupp), and real estate (via OmaKoduMaja). The company functions as a diversified industrial and investment holding group rather than a technology product company. Its portfolio companies serve the Baltic and Scandinavian markets with sustainable energy solutions, metal fabrication services, oil shale chemical processing, and real estate development.

Differentiator

Problem solved

Functional benefit

Brands

• Alexela: Sustainable energy company offering comprehensive energy services, including solar panel installation, solar parks, methanol/hydrogen/CO2 capture projects, and e-fuels development. Operates in Estonia, Latvia, and Finland.
• Alexela rePower
• Bestnet Group
• B2G Grupp
• OmaKoduMaja

Products and services

• Alexela Energy Services Alexela is a leader in sustainable energy in Estonia, providing comprehensive energy services including electricity, gas, and heating solutions to customers in Estonia, Latvia, and Finland. It acts as a partner to customers at home, on the road, and at their destinations.
• Alexela rePower Innovation Projects Green energy innovation division focused on solar panel installation, solar park construction, methanol projects, hydrogen initiatives, CO2 capture, and e-fuels development.
• Bestnet Group Metal Products and Surface Coating Metal industry operations including TIKI and AKU trailer brands and extensive metal surface coating services using modern automated technologies across the Nordic and Baltic regions.
• B2G Grupp Oil Shale Chemistry Oil shale chemistry affiliate focused on sustainable utilization and valorization of natural oil shale resources using new environmentally friendly technologies, including operations of Kiviõli Keemiatööstuse OÜ.
• OmaKoduMaja Real Estate Development Real estate developer established in 2002, specializing in new development projects for commercial and residential premises in Tallinn and Harju County, including projects like Nehatu Logistics Park, Leetse Beach Village, and Paldiski Technology Park.

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• AS Ekspress GruppminorOthers · 9 July 2025Transaction agreement where Ekspress Grupp acquired AVH Grupp's remaining 50% stake in AS Õhtuleht Kirjastus. The transaction was approved by the Estonian Competition Authority on April 2, 2026. This represents a divestiture rather than a strategic partnership.

Scale indicators4 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Fortum: Finnish state-owned energy company with significant Baltic operations through district heating and renewable energy. Comparable to AVH Grupp's Alexela operations in Finland and broader energy transition ambitions.
• Stora Enso: Nordic renewable materials company with operations in packaging, biomaterials, and wood products. Comparable to AVH Grupp's Bestnet Group metal processing operations and broader Nordic-Baltic industrial footprint.

Regional players

• Elenger: Estonian natural gas and energy company (formerly Eesti Gaas). Comparable to AVH Grupp's LNG operations (Paldiski LNG, Hamina LNG) and natural gas distribution activities.
• Latvenergo: Latvian state-owned energy company operating across generation, distribution, and retail electricity. Comparable to AVH Grupp's energy operations in the Baltic region, particularly Alexela's footprint in Latvia.
• Olympic Entertainment Group: Baltic holding company with diversified operations across gaming, hospitality, and real estate. Comparable to AVH Grupp as a Baltic diversified holding company with multi-segment portfolio.
• LHV Group: Estonian financial holding company with banking and asset management operations. Comparable to AVH Grupp in holding company structure and Estonian market presence, though different in industry focus.
• Utilitas: Estonian energy company focused on district heating and renewable energy. Comparable to AVH Grupp's energy portfolio in the Baltic energy market with overlapping renewable energy and customer segments.

Direct peers

• Tallinna Kaubamaja Grupp: Estonian diversified holding company operating across retail, real estate, and automotive sectors. Comparable to AVH Grupp as a Baltic holding company with diversified industrial operations and similar governance structure.
• Enefit: Eesti Energia's international oil shale and energy subsidiary, performing identical oil shale chemistry operations as Kiviõli Keemiatööstuse OÜ. Comparable in business model and chemical processing capabilities.
• Eesti Energia: Estonian state-owned energy company also involved in oil shale processing and renewable energy development. Directly comparable to AVH Grupp's Alexela energy subsidiary given shared Estonian energy market and oil shale chemistry exposure.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/avh-grupp-as

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries8 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 AVH Grupp AS