PRESS RELEASE SAVOTTA GROUP OY

Rite Ventures has acquired a minority stake in Savotta Group on 17.4.2025. The transaction has been signed subject to regulatory approval and is expected to be completed in the summer of 2025.

The investment aims to support Savotta's growth strategy and enable the company's independent continuity. Rite Ventures brings strategic expertise in the e commerce business and its profitable scaling to the company, and acts as a long-term owner with a Finnish background.

“When considering the continuity of our company, we started mapping out potential partners a few years ago. We wanted to find a reliable and long-term partner that would enable Savotta to continue to develop as an independent company and preserve the identity of a family company. Discussions with Rite Ventures started last autumn, and we are very pleased that the process has now been successfully completed.
We believe that Rite Ventures, as a Finnish-based and long-term owner, is the best partner for the next phase of our family business.
Our collaboration with Rite Ventures will strengthen our position in international growth and bring us more resources and opportunities for business development, utilizing Rite’s extensive experience and strong expertise in consumer product and e-commerce companies.” says Uljas Valkeinen, Chairman of the Board of Directors of Savotta, Financial Advisor.

“We discussed the merger with several interested parties and ended up choosing Rite Ventures as our partner. They have strong evidence of several growth stories and their methods of operation were most clearly in line with our own vision. Our will was also to find a partner who would invest their own money – not other people’s funds. Many things naturally fell into place. This merger with Rite and the announcement of the Finnish Defence Forces’ framework agreement were two independent pieces of good news,” commented Elmo Valkeinen, one of the main owners of Savotta.

The investment will provide the company with even better conditions to take advantage of the current exceptional market situation and accelerate international growth in both the official and consumer sectors.

"Savotta has a long tradition, a strong brand and a position in both the consumer and government segments. The company has been able to scale its production to meet the increased demand due to the change in the market situation, and we see significant international growth potential for the company in both segments. We believe that the increased demand in the defense sector will continue and we
see that the company's strong brand and high-quality products create growth
opportunities in the consumer segment also outside of Finland. Savotta plays a
significant role as part of the Finnish defense industry, which we want to do
our part to strengthen. It is also important for us to enable the next step in the development of the family company," says Rite's partner, Michael Richter.

 

Savotta in brief

Savotta designs and manufactures high quality functional equipment for demanding professional and recreational use. The company's net sales in the 2024 financial year were 14.5 MEUR and the Group's EBITDA was 3.78 MEUR. The company has production facilities in Finland and Estonia and employs 206 people.

 

Rite Ventures in brief

Rite Ventures is an investment company founded in 2007 that acts as a minority investor and active partner in entrepreneur-led Finnish and Swedish e-commerce, consumer products and software companies. Rite acts as an owner in both unlisted and listed companies.

 

For more information please contact: info@savotta.fi

 

Picture by: Anne Mietala, Editor-in-Chief, Viispiikkinen Magazine