Summa Defence acquires Lännen MCE Oy to expand multipurpose machinery capabilities

Jussi Holopainen, CEO of Summa Defence Ltd, highlighted the strategic importance of the acquisition. “The multipurpose and intelligent machine and equipment solutions of the Lännen MCE Group provide a strong foundation for Summa Defence’s mobility and comprehensive security product portfolio for both defence and civilian applications. Going forward, we will be able to offer outstanding solutions for demanding defence operations and their support functions.”

Lännen MCE Oy’s expertise in multipurpose machinery for demanding conditions will enhance Summa Defence’s capabilities in both civilian and defence markets. Its products, including Lännen and Lundberg machines, are known for their mobility and versatility, supporting infrastructure construction, maintenance, and defence operations such as de-mining and fortification. Aquamec’s Watermaster machinery complements this portfolio by providing solutions for maintaining waterways, ports, and shorelines.

Veli Ollila, CEO of Lännen MCE Oy, sees the acquisition as a growth opportunity. “This ownership arrangement opens up significant growth opportunities for us and supports our strategic goals. With Summa Defence’s expertise and resources, we can strengthen our market position and even better meet our customers’ needs.”

For the fiscal year ending June 2023, Lännen MCE Oy reported revenue of approximately €50 million and employed around 150 people. The acquisition will not impact personnel, and the seller, Lännen MCE Oy, will retain a significant minority stake in Summa Defence Ltd.

Timo Huttunen, Chairman of the Board of Lännen MCE Oy, reassured stakeholders about continuity. “The operational management of the Lännen MCE companies transferring to Summa Defence will not change. We will continue with Veli Ollila at the head of this entity.”

Markku Kankaala, Chairman of the Board of Summa Defence Ltd, described the acquisition as part of a broader strategy. “Summa Defence is an alliance of entrepreneurs uniting defence and security industry companies to build a strong, publicly listed growth company. Our acquisition strategy focuses on companies with proven technologies applicable to both defence and civilian markets.”

Summa Defence, which aims to strengthen industrial production capacity and dual-use technologies, is also in discussions with other companies in the defence and security sector. With this acquisition, Summa Defence continues its mission to enhance security, supply resilience, and crisis management capabilities.