Conex

What Conex does

Conex OÜ is a Tallinn-based, Estonian capital-owned construction subcontractor founded in 2006, specializing in reinforced concrete construction, formwork, reinforcement, and concrete casting, as well as the installation of prefabricated reinforced concrete elements and the construction of concrete floors across industrial, commercial, residential, and power-generation facilities. Its core technical offering revolves around monolithic concrete and reinforced concrete assembly for structures such as foundations, walls, columns, beams, ceilings, and staircases, and it also markets a branded underground cellar product called Maakelder24 — a two-container hermetic system designed for high-groundwater conditions and certified to European standard EVS-EN 13670:2010 quality class AA.

The company operates with approximately 50 construction professionals and a small leadership team comprising a director, a project manager, two site managers, and a project engineer. Revenue is generated almost entirely through project-based subcontracting engagements with a small number of large Estonian main contractors — prominently Merko Ehitus, Oma Ehitaja, and Tarrest LT — under which Conex executes the reinforced concrete scope of large projects such as the Auvere power plant, the Rotermanni quarter, the Health Board (Terviseamet), and the Ministry of Defence building. A secondary direct-to-consumer channel sells Maakelder24 cellars to residential and summer-cottage owners through the maakelder24.ee website.

The go-to-market is relationship-driven rather than marketing-led: Conex relies on direct B2B subcontractor ties, multilingual website presence (Estonian, Russian, English, Finnish), a Finnish sales office in Espoo, and project experience in Estonia, Finland, and Latvia. Pricing is project-based and not publicly disclosed. The company has not raised external funding, has no disclosed parent, and is privately held.

Name

Conex

Legal name

Conex OÜ

Website

https://conex.ee

Company type

Private

Founded year

2006

Operating status

Operating

Short description

Conex OÜ is an Estonian capital-owned construction subcontractor founded in 2006 that delivers reinforced concrete structures, concrete floors, foundation work, and installation services, primarily serving large Estonian main contractors and, via its Maakelder24 brand, residential property owners.

Ownership category

akta.pro rank

Product category

Concrete Construction Services

NAICS

Poured Concrete Foundation and Structure Contractors (23811), Cement and Concrete Product Manufacturing (3273)

SIC

Heavy Construction Other Than Bldg Const - Contractors (1600), Concrete Products, Except Block & Brick (3272)

akta.pro primary industry

Piling & Deep Foundations (Driven, Bored, CFA, Micropiles) (IMAFAOAA)

akta.pro secondary industry

Concrete Pavers, Hardscape & Retaining Wall Systems (IMADAAAE)

Keywords

• Reinforced concrete construction
• Concrete foundation works
• Underground cellar installation
• Concrete floor construction
• Subcontractor construction services

Headquarters

HQ city

Tallinn

HQ country

Estonia

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Others

Revenue model

1. Subcontractor Construction Services: Conex OÜ operates as a subcontractor performing concrete works and installation work for large construction companies under contract. Revenue is generated through project-based contracts where the company provides labor and expertise for reinforced concrete construction, installation, and concrete floor work.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels2 records

Core offering

Conex OÜ is an Estonian construction company that delivers reinforced concrete construction services, including formwork, reinforcement, and concrete casting for foundations, walls, columns, beams, ceilings, and staircases. The company also performs mounting/installation of prefabricated reinforced concrete elements, builds industrial and residential concrete floors, and manufactures/installs Maakelder24 underground cellars. Operations are conducted primarily as a subcontractor to large Estonian main contractors on commercial, industrial, and government projects.

Product overview

Conex OÜ is an Estonian construction company founded in 2006 offering a portfolio of four interconnected construction services: Betoonitööd (Concrete Works) as the primary activity involving reinforced concrete structure construction; Montaažitööd (Mounting Works) for installation of prefabricated reinforced concrete elements; Betoonpõrandad (Concrete Floors) for floor construction across various building types; and Maakelder24 as a branded underground cellar product. The company operates as a subcontractor primarily serving major Estonian construction firms, with approximately 50 employees delivering projects throughout Estonia, Finland, and Latvia.

Differentiator

Problem solved

Functional benefit

Brands

• Maakelder24: A modern architectural solution for underground cellars. The cellar consists of two hermetic containers with floor and intermediate floor hermetically connected. Products meet the high quality class 'AA' and comply with European norms and standards (EVS-EN 13670:2010). Maakelder24 is designed for installation in areas with high groundwater levels.

Products and services

• Betoonitööd (Concrete Works) Construction of reinforced concrete structures including formwork, reinforcement, and concrete casting for foundations, monolithic walls, ceilings, columns, beams, and staircases. Delivered by Conex OÜ's own labor force primarily as a subcontractor to large Estonian construction companies for commercial, industrial, residential, and government projects.
• Montažitööd (Mounting Works) Installation of reinforced concrete elements including columns, beams, floor panels, interior and exterior wall panels with reinforcement and monolithic casting. Covers varying complexity categories for different building types.
• Betoonpõrandad (Concrete Floors) Construction of concrete floors including industrial floors, residential floors, cold storage floors, ground-level concrete floors, parking areas, and ramps. Services include design, insulation, reinforcement, and concreting, delivered across Estonia.
• Maakelder24 (Underground Cellars) Modern underground cellar solution consisting of two hermetic containers with hermetically connected floor and intermediate floor, made from dense concrete with water-repellent additives. Designed for installation in areas with high groundwater levels and small plots such as summer cottage properties. Sold and installed directly to residential property owners.

Named customers3 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered core.

• Merko Ehitus AScoreChannel Partner/ Reseller/ DistributorMerko Ehitus AS is a major Estonian construction company and a key customer/client of Conex OÜ. Conex performs concrete subcontracting work for Merko Ehitus projects such as the Auvere Soojuselektrijaam (14,800 m³).
• Oma Ehitaja AScoreChannel Partner/ Reseller/ DistributorOma Ehitaja AS is an Estonian construction company that commissions Conex OÜ for concrete and installation works on various projects including Rotermanni kvartal (3,350 m³) and Terviseamet (2,689 m³).
• Tarrest LT AScoreChannel Partner/ Reseller/ DistributorTarrest LT AS commissions Conex OÜ for concrete work on government projects such as the Kaitseministeerium (Ministry of Defense) building (2,670 m³).

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Astlanda Ehitus OÜ: Estonian construction company active in residential and commercial concrete-frame work. Overlaps with Conex on the same concrete/monolithic construction services and the same Estonian customer pool.
• YIT Oyj: Finnish/Nordic construction group with residential, commercial, and infrastructure concrete work. Comparable as a concrete-capable contractor in Finland — the market where Conex has a dedicated sales office (Espoo).
• Merko Ehitus AS: Estonia's largest listed general contractor and a key customer of Conex. Broad incumbent rather than direct peer: Merko is a full-service GC, while Conex is a concrete specialist subcontractor to it; comparable in that they operate in the same Estonian commercial, industrial, and energy construction market.
• Oma Ehitaja AS: Estonian general contractor and named Conex customer on Rotermanni and Terviseamet projects. Broader scope than Conex but operates in the same Tallinn construction ecosystem with comparable project types.
• Mapri Ehituse OÜ: Estonian construction and real-estate developer group. Comparable as a domestic player executing concrete-intensive residential and commercial projects, with broader scope (development + contracting) than Conex.
• Tarrest LT AS: Estonian/Latvian general contractor and named Conex customer on the Ministry of Defense project. Comparable market (government and commercial construction in Estonia/Latvia) but broader scope as a GC.
• Skonto Group (Latvia): Latvian construction conglomerate active in concrete, infrastructure, and prefabricated elements across the Baltics. Same regional market adjacency and concrete competency as Conex, with a broader portfolio.

Direct peers

• Fund Ehitus OÜ: Estonian concrete and general-construction contractor of comparable scale, also typically operating as a subcontractor on Estonian commercial and residential builds. Closest direct peer to Conex by service mix and size.

Others

• Elematic Oyj: Finnish supplier of precast concrete technology and machinery. Not a competitor but thematically adjacent to Conex's concrete/monolithic construction core and useful as a market signal for precast vs. cast-in-place demand in the region.

Regional players

• BMGS SIA: One of Latvia's largest construction groups with concrete and infrastructure capabilities. Comparable in concrete structural work and in operating in a neighboring Baltic market where Conex has stated project experience.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 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 Conex