# Elcoline Group completes acquisition of Fortum's Turbine and Generator Services business

Elcoline Group Oy completed the acquisition of Fortum's Turbine and Generator Services (TGS) business on December 31, 2024. TGS, with over 170 employees in Finland, Sweden and Germany, had a turnover of EUR 32 million in 2023.

- Type: Acquisition
- Announced: 2024-12-31
- Where: Finland
- Jobs: 170
- Status: completed
- Products: turbine and generator maintenance services, equipment condition monitoring, control and protection system upgrades
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

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

## Sources

- [elcoline.com](https://elcoline.com/the-acquisition-of-fortums-turbine-and-generator-services-tgs-business-has-been-completed-the-acquisition-strengthens-elcolines-position-as-a-nordic-provider-of-technical/), 2024-12-31: "The acquisition is well in line with our ambitious growth strategy towards our EUR 250 million revenue target."

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