Steel service company Feon acquires the business of Swiss Steel Oy – the deal strengthens Feon’s market position as the largest domestic player in the industry

PRESS RELEASE Helsinki 8.4.2025 10:00

Finnish steel service company Feon has signed an agreement to acquire the business of Swiss Steel Oy. When completed, the deal will strengthen Feon's market position as the largest Finnish player in the industry and provide a broader product range for customers.

Feon Oy, subsidiary of Finnish family-owned company Onvest Oy, is increasing its market share by acquiring the business of Swiss Steel Oy, a steel service company focused on special steels. The combined annual turnover of the new entity is approximately 160 million euros, and it employs 300 people

After the completion of the acquisition, Feon will offer both current and new customers an even wider range of products and services, as well as an efficient distribution network. At the same time, more customers will have the opportunity to benefit from Feon's extensive supplier network, which will expand upon the completion of the deal.

Feon's CEO Petri Kalliokoski believes the acquisition will enhance Feon's service capabilities for Finnish machine workshops: "By executing this acquisition, we will be able to serve our customers even better, with Finland's most comprehensive stock selection, a wide supplier network, and the fastest deliveries. We have made significant investments in growth in recent years and believe that this acquisition will further improve our service capabilities."

Acquisitions supporting growth strategy and strong market position

In line with its growth strategy, Feon has strengthened its market position as a significant domestic player in the industry through acquisitions. Feon's owner, the Finnish family-owned company Onvest, views positively Feon's strengthening in the market: "As advocates of active Finnish ownership, we find it particularly encouraging that Feon continues to implement its growth strategy and actively develop its operations," says Onvest's Chairman of the Board Maria Toivanen.

Swiss Steel Oy, operating in Valkeakoski, is the representative of the Swiss Steel Group in Finland. The company is owned by the Swiss Steel Group and Oy Flinkenberg Ab. It was important for the sellers to find a partner that can continue to represent the group's products in Finland in the long term. "I am convinced that Feon is an excellent buyer for the business in this respect," says Flinkenberg's CEO Christoffer Ehrnrooth.

The deal is expected to be completed by the end of April. The deal will not have direct effects on the personnel or services of Feon or the business being transferred from Swiss Steel.

For more information:

Petri Kalliokoski, CEO, Feon Oy
petri.kalliokoski@feon.fi
+358 40 135 4950

Christoffer Ehrnrooth, CEO, Oy Flinkenberg Ab
christoffer.ehrnrooth@flinkenberg.fi
+358 400 573 599

Feon Oy

Feon Oy is the largest Finnish steel service company in the market, aiming to provide its customers with comprehensive and smooth delivery of steel products and services in the Finnish market. Feon's customers include professionals in machine and equipment manufacturing as well as steel construction. Feon is developing Finnish industry by digitalizing services and operating methods. The combined revenue of Feon Oy and its subsidiary Ferrum Steel Oy is 150 million euros, and they employ approximately 300 people in Finland. Feon and Ferrum Steel's service centers are located in Hattula, Uusikaupunki, and Seinäjoki. Feon Oy is owned by the Finnish family company Onvest Oy.

Swiss Steel Group

Swiss Steel Group is Europe's leading producer of long steel products. The group includes eight steel mills, 25 production units, and 70 sales companies in 30 countries. The group's revenue in 2024 was 2.4 billion euros, and the number of employees was 7,450. The group strongly supports the green transition; all steel mills operate with electric arc furnaces, with recycled steel as the main raw material.