Aventum acted as advisor to Sentica, the management and other shareholders on the sale of Citec, an expert in industrial plant engineering, product engineering, technical documentation and digital solutions
Aventum advised Sentica, the management and other shareholders of Sentiec Oyj (“Company”), the holding company of Citec Group Oy Ab, on the sale of their shares in the Company to Cyient Ltd (“Cyient”).
Citec is an expert in industrial plant engineering, product engineering, technical documentation and digital solutions. Company, through its subsidiaries, provides multidiscipline engineering and technical documentation services globally. Citec currently employs more than 1,200 persons worldwide and is headquartered in Vaasa, Finland. Company has offices in Finland, Sweden, Norway, France, Germany and India. Citec net sales amounted to approx. 80 EUR m and adjusted EBITDA approx. 15 EUR m in 2021.
Cyient is a leading global technology solutions company with more than 13,000 employees in 14 countries and is headquartered in Hyderabad, India. Cyient’s shares are publicly listed in India on the National Stock Exchange (NSE: CYIENT) and the Bombay Stock Exchange (BSE: 532175).
The acquisition and partnership with Citec will enhance Cyient’s position as a leader in the plant engineering services sector, strengthen its presence in the energy industry with a focus on clean energy, and expand its European footprint especially in the Nordic region.
The transaction is expected to close in May 2022.
For further information on the transaction please contact:
Tommi Laisi
Director
+358 40 845 6075
Matti Heiskala
Partner
+358 40 828 8487