Wave power returns to Karen's portfolio

Aalto Personnel Services – or Aaltovoima – founded in 2005 and acquired by the Norwegian Otiga Group in 2016, will return to its founders and become part of the Karen personnel services group Workteam Group.

After becoming part of the Otiga Group in 2016, Aaltovoima has since operated under several different brands, most recently as part of Folka Personnel Services. In the agreed arrangement, some of Folka Personnel Services' operations will be separated from Folka and will once again operate under the familiar Aaltovoima name.

The arrangement will be implemented through a business transaction, in which Aaltovoima's operations will become part of the companies of the Workteam Group. Base Personnel Services will take over Aaltovoima's industrial operations and KVR-Vuokraus's construction operations. At the same time, KVR-Vuokraus's name will change to Aaltovoima. Folka's operations will continue unchanged.

Aaltovoima's original founder and Workteam Group CEO Jake Aalto is very pleased with the business transaction: "Aalto Personnel Services was a pioneer in the Finnish human resources sector in the 2010s, and its transfer to Otiga's ownership was a landmark event in the industry. It's great to be able to work with familiar customers and professionals again, under our common and familiar brand!"

"In the arrangement, Aaltovoima's customer relationships and rental personnel will be transferred from Folka, but not Folka's administrative and support personnel. The arrangement clarifies Folka's business structure and helps us serve our customers even better. It has been a pleasure to work with Aaltovoima's customers and personnel,” says Folka's CEO, Heikki Lamminpää.

Aaltovoima's turnover in 2022 was 9.3 million euros. After the business transaction, Workteam Group will continue to grow towards becoming one of the most significant personnel services companies in Finland.