# Fortum to sell turbine and generator services to Elcoline Group

Fortum has signed an agreement to sell its turbine and generator services business to Elcoline Group Oy. The transaction is expected to close in Q4 2024.

- Type: Acquisition
- Announced: 2024-11-01
- Where: Finland, Sweden, Germany, Finland
- Jobs: 170
- Status: announced
- Products: turbine services, generator services
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Fortum](https://endata.com/companies/11212.md)
- [Fortum](https://endata.com/companies/11212.md) (target)
- [Elcoline Group Oy](https://endata.com/companies/80790.md) (acquirer)

## Sources

- [fortum.com](https://www.fortum.com/en/media/2024/11/fortum-divest-its-turbine-and-generator-services-elcoline-group-oy), 2024-11-01: "Fortum has signed an agreement to sell its turbine and generator services to industrial technical services provider Elcoline Group Oy."
- [elcoline.com](https://elcoline.com/elcoline-continues-to-grow-and-acquires-the-turbine-and-generator-services-from-fortum-the-acquisition-strengthens-elcolines-position-as-a-nordic-provider-of-technical-services-to-industry/), 2024-11-01: "This acquisition will accelerate Elcoline’s ambitious growth strategy and is an important step towards our EUR 250 million revenue target."
- [dittmar.fi](https://www.dittmar.fi/references/elcoline-acquisition-of-fortum-turbine-generator-services/), 2024-11-04: "The transaction is subject to customary closing conditions and is expected to be completed in Q4/2024."

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.