Bravedo strengthened its ownership structure at the end of December 2025. In the transaction, earnings-related pension insurance company Ilmarinen acquired shares in Bravedo as a new investor. At the same time, existing shareholder earnings-related pension insurance company Elo increased its ownership stake. Following the transaction, the combined ownership of Elo and Ilmarinen in Bravedo Oy amounts to slightly over 20 per cent of the company’s share capital.
Following the completion of the ownership arrangement, Bravedo, together with a group of Finnish private investors, acquired Forenom Group Oy from CapMan Buyout and Finnish Industry Investment. Forenom is a leading provider of accommodation solutions in Northern Europe, in which Bravedo already held a minority stake prior to the transaction. As a result of the acquisition, Bravedo’s ownership in Forenom increased to just under 50 per cent.
“We have followed Bravedo’s development and profitable growth closely for more than ten years. It has been impressive to see how the group and its key people have maintained entrepreneurial agility as market conditions have evolved and the company has grown. We remain strongly committed to Bravedo’s growth story going forward,” says Kari Lehtonen, Portfolio Manager at Elo.
“There are early signs of an economic turnaround in Finland, and we believe that Bravedo, with its broad and modern service offering, is well positioned to support the competitiveness of its current and future customers,” says Esko Torsti, Head of Private Equity at Ilmarinen.
“It is a pleasure to welcome strong domestic institutional investors to support Bravedo’s growth and international expansion. A solid ownership base enables us to make further growth investments, of which the follow-on investment in Forenom is the first example. Providing innovative workforce solutions to our customers in the Nordics is at the core of our strategy, and Forenom’s accommodation expertise perfectly complements our capabilities in delivering comprehensive solutions,” says Markus Oksa, CEO of Bravedo.
Further information:
Markus Oksa
Chief Executive Officer
Bravedo Oy
+358 40 585 6619
markus.oksa@bravedo.fi