HELSINKI: Sitowise Group Plc has signed an agreement to sell the entire shareholding of its Swedish subsidiary Sitowise Sverige AB (the Sweden business area) to Sweco.
The business to be divested, Sitowise Sverige AB, offers technical consulting services in Sweden with a focus on structural engineering and building services for commercial and residential buildings, infrastructure design, and project management. It generated net sales of EUR 26.3 million in 2025, employs about 265 people and was loss-making, a statement said.
The management has decisively executed a restructuring of the Swedish operations, delivering a material operational improvement that ultimately created the conditions for a divestment. The divestment allows Sitowise to focus on the highest impact for solid growth and strengthened profitability. Sitowise’s Swedish subsidiary Sitowise Digital Solutions AB (previously Infracontrol AB) continues to be a part of Sitowise’s Digital Solutions business area.
The parties have agreed on an enterprise value (EV) of approximately EUR 3.0 million. The parties have also agreed on an earn-out of up to approximately EUR 2.0 million related to long-term lease liabilities, which will be recognized in profit or loss in 2027–2029 if realized.
“We are pleased that our Swedish business has attracted interest and we have reached this agreement with Sweco. We are confident that Sweco will be a good new home for our current Swedish experts,” says Jannis Mikkola, acting CEO of Sitowise Group Plc.
“The transaction marks a new phase for Sitowise. Our three continuing businesses – Infra, Buildings and Digital Solutions – stand on solid foundations. We will focus on strengthening our competitiveness and market position, leveraging technological transformation, AI and automation to remain at the forefront of the industry. The transaction will improve Sitowise Group’s profitability and cash flows,” Mikkola continues.
From here on, the priority is to grow ahead of the market across all three business areas. This will be driven by expansion in Sitowise’s strong client segments and selected growth areas, supported by deploying the best talent across the organization. In the medium term, growth will be complemented by selective M&A. Sitowise continues to move forward as a company built for sustainable growth and long-term value creation.
Sitowise will classify the business to be divested as assets held for sale until completion of the transaction and present it as discontinued operations starting from the second quarter interim report of 2026. The assets and liabilities of the divestment are measured at fair value less costs to sell. Any resulting impairment is recognized as part of the result from discontinued operations. Sitowise will, therefore, publish restated Group financial information for 2025 and for January–March 2026 prior to the publication of the second quarter interim report on 12 August 2026.
The financial impacts of the transaction are still to be confirmed, but for illustrative purposes, had the transaction taken place in 2025, it would have reduced the Group’s net sales by EUR 26.3 million, while clearly improving the Group’s adjusted EBITA margin. Sitowise expects to record a sales loss on the remaining book value of its shares in Sitowise Sverige AB in the Group parent company.
The completion of the transaction is subject to customary closing conditions and regulatory approvals. The transaction is expected to be completed during the third quarter of 2026.
