Serial acquirer Auroora plans Helsinki IPO, aims to raise approximately 35 million euros

Finnish firm Auroora has announced plans for an initial public offering on Nasdaq Helsinki in conjunction with a new share issue. The goal is to raise approximately 35 million euros to finance acquisitions, investments in subsidiaries, and general corporate purposes.

”The purpose of Auroora’s operations is to create active Finnish ownership and sustainable growth. Auroora is currently Finland’s largest multi-sector compounder measured by net sales. Auroora’s operations are focused on industrial and technical segments supported by long-term structural trends, such as electrification, the energy transition, investments in water infrastructure, and industrial efficiency,” says Chairman Pekka Tammela in a statement.

He continues:

”We follow a long-term strategy focused on acquiring and developing industrial small and medium-sized enterprises with reliable operational performance, strong market positions, and sustainable growth potential. The planned IPO and the resulting increased liquidity in the shares would enable the company to use its shares more effectively as consideration in potential future acquisitions.”

Ahead of the offering, so-called anchor investors, along with Chairman Pekka Tammela and CEO Antti Rauhala, have provided subscription commitments totaling approximately 22 million euros, provided that the company’s pre-money valuation does not exceed approximately 115 million euros.

Investors include Aktia, Elo, Varma, OP, Sp-Fund Management, and United Bankers.

Auroora invests in small and medium-sized industrial companies and had a total of 25 operations at the end of 2025. Pro forma net sales in 2025 amounted to approximately 235.2 million euros with an adjusted EBITA margin of 7.5 percent.

The company targets net sales of 400 million euros and an EBITA margin exceeding 10 percent by 2028 at the latest.