Vexve Armatury Group

Securing reliable flow control solutions globally through industry leading valve offering

VexveARMATURY Group
CEO

Jussi Vanhanen

Board of Directors

Sari Baldauf (Chairman)
Otto Kukkonen (Vice Chairman)
Jarmo Nieminen
Tomio Pihkala
Kalle Reponen
Lauri Stadigh

Year of DevCo investment

2016

Revenue (2018 pro forma)

€110m

Employees (2018 pro forma)

750

Share of exports (% of revenue)

90%+

It has been a true pleasure to see the DevCo team take an active role also on the operational level at Vexve. This has enabled me to step down from the CEO position and enjoy the development of the company in a board role.

Jarmo Nieminen – Former CEO & Chairman of Vexve

What is Vexve Armatury Group?

Vexve Armartury Group is the leading manufacturer of high-quality valves specifically developed for the most demanding applications in the wider energy sector.  The company was created by combining two leading valve manufacturers in their respective niche markets, Vexve and ARMATURY Group. The valves of Vexve Armatury secure, for example, heating and comfort for hundreds of millions of people around the globe. The history of the company dates back to 1960 and today its revenues are generated annually from over 70 countries. The valves are manufactured in highly automated production facilities to ensure highest possible quality in large volumes – and further distributed through large-scale service centers in Europe, Russia and China.

I had been in a dialogue with DevCo regarding Armatury's strategic alternatives for a long time, when I decided that the timing is right for a new owner. DevCo team came across as a truly committed partner to support ARMATURY Group and Vexve in the next growth phase.

Petr Holeček – Former Chairman of ARMATURY Group

Why did we invest in Vexve Armatury Group?

DevCo identified valves as mission critical components in process industries and energy infrastructure. Moreover, increasing automation and focus on safety drive a development towards even greater importance of valves.

Vexve’s position as the leading valve manufacturer in the district energy segment made the company a particularly attractive platform for DevCo in 2016. District energy is an attractive and secularly growing global niche supported by strong trends – for example, rapidly increasing urbanization and focus on affordable and clean energy.

In September 2019, DevCo created a leading European provider of valve solutions for the wider energy sector by combining Vexve and ARMATURY Group, the largest industrial valve manufacturer in Czech Republic.

Outstanding reputation among the customers around the globe, combined with highly innovative R&D and automated production, are the cornerstones from which Vexve Armatury Group is recognized today – also a solid foundation for continued organic growth in the future.

Impact on society

District energy is a critical part of urban heating and millions of installed Vexve valves secure the reliability of the system. For example, the majority of the valves used in the main transmission lines in Beijing are Vexve valves.

It has been a true pleasure to see the DevCo team take an active role also on the operational level at Vexve. This has enabled me to step down from the CEO position and enjoy the development of the company in a board role.

Jarmo Nieminen – Former CEO & Chairman of Vexve

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