17/03/2022

Elämys Group’s acquisition of Matkapojat makes it the largest privately owned travel company in Finland

Iconic Tampere-based tour operator Matkapojat has merged with Elämys Group in an acquisition. Matkapojat’s previous owners and a group of Finnish investors also made significant investments in Elämys Group. This acquisition makes Elämys Group the largest Finnish privately owned tour operator and travel agency. The range of services offered to customers will expand significantly in the future, covering almost all areas of tourism and travel.

The combined turnover of the companies now belonging to Elämys Group was over 55 million euros before the coronavirus pandemic. The company aims to become the largest operator in several areas of tourism in Finland and to achieve a turnover of 100 million euros by 2025.

In addition to Matkapojat, other Elämys Group brands include Elämysmatkat, OK-Matkat, Matka-Agentit, and business travel agency Menestys.

– The Matkapojat brand and expertise is unrivalled in group travel and in the Baltic Sea region. We can now complement this equation with an even wider range of travel services and the latest technology in the industry. Over the years, hundreds of thousands of Finns have travelled with Matkapojat. We can now offer our new and old customers completely new experiences, says Pasi Latva, CEO of Elämys Group.

The Matkapojat owner family and an investor group become new minority owners of Elämys Group

In connection with the acquisition, Elämys becomes part-owned by the Penttilä family company Matkaset Oy, from which Elämys Group acquired Matkapojat. In the same issue of shares, Elämys Group was also invested in by Nordia Kasvu Ky, the new growth fund of the private equity firm Nordia Management, as well as Takoa Invest and private individuals. Elämys Group will continue to be majority-owned by long-time owners Jussi Viskari and Aarni Kotilainen.

The funding raised will significantly strengthen Elämys Group’s balance sheet. Jussi Viskari, Chairman of the Board, Elämys Group:

– This acquisition and funding round are the culmination of a long effort to bring together the best talent, brands, and technology in the industry into Elämys Group. Now our professionals are also supported by a wider and stronger group of owners, hungry to continue this growth story internationally.

The new owners believe in the success of the new Elämys Group. Nordia’s Kalle Lumio:

– Elämys Group has worked hard to ensure that it is ready to grow quickly and profitably when international demand for tourism returns. We saw an opportunity to be part of a major industry consolidation and a company that has all the prerequisites to be a growth engine in its sector. The success factors of Elämys now include a strong balance sheet, which makes the company both resilient and ready to pursue new business opportunities.

Matkapojat will continue to operate under its own brand. The acquisition will have no impact on staff. Customers will see the impact of the acquisition in terms of a wider range of products and services as well as a more sophisticated booking experience.

Contact information:

Pasi Latva, CEO of Elämys Group:
+358 400 700 328, pasi.latva@elamysgroup.com

Ari Penttilä, CEO of Matkapojat:
+358 50 385 1110, ari.penttila@matkapojat.fi

Jussi Viskari, Chairman of the Board, Elämys Group:
+358 40 584 6425, jussi.viskari@elamysgroup.com

Kalle Lumio, CEO of Nordia Management:
+358 40 737 1559, kalle.lumio@nordiamanagement.fi

Facts: Elämys Group

Elämys Group is a Finnish travel group that focuses on providing top service from the best people in the industry and making efficient use of the latest technological solutions. For customers, this translates into a wide range of products, affordable prices, a smooth booking experience, and expert service. Elämys Group employs 90 travel professionals and is the largest private tour operator and travel agency in Finland.