Ametalis expands into Finland and welcomes Etha Oy to the group

Ametalis AB acquires Etha Oy, a Finnish consultancy specializing in sustainable energy. The partnership marks Ametalis’ entry into the Finnish market and expands the group’s advisory services within renewable energy, grid solutions, technical and transaction advisory services in the Nordic region.

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Ametalis AB (“Ametalis”) has acquired Etha Oy (“Etha”), a prominent Finnish consultancy specialised in sustainable energy. The transaction forms part of Ametalis’ strategy to build a leading Nordic platform of specialist companies within technical and environmental consulting services, with sustainability embedded as an integral part of operations. With the addition of Etha, the Ametalis Group expands its service offering to encompass renewable energy development, grid solutions, technical and transaction advisory services, while establishing a strong local presence in Finland. The transaction takes place in a market characterized by increasing complexity and growing demand for specialized sustainable energy-related expertise.

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“I regard joining Ametalis as a natural next strategic step for Etha, as the company is now evolving into a medium-sized business and is pursuing new growth and development opportunities. Companies joining Ametalis will retain autonomy over the operative management of the company, and this was also a critical criterion for Etha to join Ametalis. This unique collaboration will offer significant development possibilities and at the same time Etha will retain its operational responsibility, organisational culture and strong local brand which are crucial for the success of the company,” says Staffan Asplund, Chairman of Etha.

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“Etha has successfully developed its business over the years, and I believe this is the right time for Etha to become part of a larger group that shares the same mission and vision, which also serve as Etha’s sustainable business drivers. Ametalis will offer Etha active support in developing the company further, and the collaboration will provide Etha with new opportunities for growth and access to a wider industry network that will also benefit our customers. I look forward to beginning our cooperation with Ametalis.”, says Marko Ekman, Managing Director of Etha.

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“We are pleased to welcome Etha and its team to Ametalis. Etha’s sustainable energy expertise, clear market position, and trusted brand make a strong addition to our group and mark an important step in Finland. Becoming part of Ametalis creates new growth opportunities while preserving Etha’s entrepreneurial spirit. We very much look forward to starting this new partnership,” says Kim Lehmusvuori, CEO of Ametalis.

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As part of the transaction, current shareholders in Etha will reinvest and become shareholders in the group.

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About Ametalis

Ametalis’ strategy is to acquire and develop small and medium-sized specialist firms within technical and environmental consulting services, with a clear sustainability focus embedded in their operations. The group’s expertise spans sustainability consulting, environmental analyses across soil, water, air and ecology, as well as technical solutions for infrastructure and industry. Acquired companies exist in a decentralized environment, retaining their identity, customers, and operational autonomy, while gaining access to shared resources, wide professional networks, operational tools, and a strong strategic framework to support continued growth and enable group synergies. In 2025, the Swedish investment firm MVI became the majority owner of Ametalis, forming a long-term partnership and providing the capital and strategic support required to expand the group’s Nordic platform.

www.ametalis.com

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About Etha

Etha is a leading sustainable energy consultancy with a mission to enable the energy transition, leveraging over two decades of experience in supporting renewable energy projects across wind, solar and battery energy storage systems. The company offers expert services including full-scale project development, permitting, grid solutions, technical due diligence, and comprehensive transaction services. Etha serves a wide range of customer segments through specialised business units and has participated in over 20 GW of clean energy projects in Finland and beyond. The company employs approximately 40 professionals in offices located in Helsinki, Tampere, Oulu, and Vaasa.

www.etha-consultancy.com

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For Press Inquiries and Further Information, Please Contact:

Ametalis

Kim Lehmusvuori, CEO, kim.lehmusvuori@ametalis.com / +46 (0)72 151 80 13

Etha

Staffan Asplund, Chairman, staffan.asplund@etha-consultancy.com / +358 44 380 9237

Marko Ekman, Managing Director, marko.ekman@etha-consultancy.com / +358 50 526 5293

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