Innoflame Group Oy has acquired the share capital of Loihe Oy

The acquisition boosts Innoflame’s revenue to over 48 million euros. Loihe will continue its operations as a sister company of Innoflame.

Innoflame Group Oy has acquired the entire share capital of Loihe Oy, which employs a total of 32 people. The transaction became effective on April 17, 2024, and it grew Innoflame’s business by eight million euros.

Among the principal owners of the acquired company, Stenka Heino will continue as CEO and Antti Holmi as CFO of Loihe Oy. They are both also partners of Innoflame Group Oy.

“The transaction is a natural part of Loihe’s growth story. Our strategic goal has always been to grow large enough so that a focus on responsibility and domestic origin would truly matter in the market,” says Stenka Heino, CEO of Loihe.

The acquisition gives Loihe’s employees access to Innoflame’s advanced and agile systems to serve customers even better. Innoflame’s gift card shop, Perfect Finnish, also offers Loihe’s customers completely new opportunities to commemorate their stakeholders.

“In return, this transaction provides Innoflame with a wealth of expertise in responsibility and domestic production, as well as a workforce that is highly dedicated to its customers,” says Sami Savela, CEO of Innoflame.

The company will continue to heavily invest in digital solutions and personalized service. Innoflame aims to be a partner to its customers in achieving sustainability goals as well. Innoflame’s unique Print-On-Demand concept ensures that customers do not need to order any extra printed merchandise: every printed item is produced based on the customer’s genuine need. Loihe’s strong expertise in sustainability also supports this goal.

Innoflame serves customers nationwide, with a strong local presence. Loihe’s showrooms are located in Espoo, Kokkola, and Oulu. Customers are also served in Lahti, Jyväskylä, Porvoo, Turku, and Tampere. In addition to these locations, Innoflame operates in Helsinki and Pori, as well as in Turku, Tampere, and Oulu.

Further information:
Sami Savela
CEO, Innoflame Oy
tel. 050 514 3961

Stenka Heino
CEO, Loihe Oy
tel. 0400 226 227