Administer acquires the payroll service business of Konjunktuuri

The payroll services of Konjunktuuri Oy, located in Varkaus, will be integrated into the service offering of Tilikamut Oy, part of Administer Group, in the asset acquisition. The acquisition strengthens the operations of Tilikamut and Administer Group in the Savo area as the Group gets a new office in Varkaus.

Payroll services support and bolster the financial management services of Tilikamut in an excellent way. The company’s clients can get accounting services and enhanced payroll expertise from a single provider, and the payroll service clients transferring to Tilikamut in the asset acquisition are correspondingly offered the skilled accounting services of Tilikamut. Five Konjunktuuri’s payroll experts will transfer to Tilikamut in connection with the acquisition.

Before the transaction, Tilikamut Oy has offices in Pieksämäki and Joensuu, and the company serves enterprises in North Karelia and South and North Savo in particular. Tilikamut joined Administer Group in autumn 2021. The company’s local knowledge and service is supported by the large Group’s versatile expertise in financial and payroll management services as well as in processes and systems.

“A key objective of our strategy is to grow both organically and through acquisitions, and this asset acquisition is a great step forward in its implementation. At the same time, we are strengthening our operations in the Savo area, where we see significant growth potential. Local expertise and knowledge of the business environment of the area create a competitive advantage for Administer Group, and by strengthening its payroll service offering, Tilikamut can serve clients in the Varkaus and Savo area in a more comprehensive way. We have also agreed on extensive cooperation with Konjunktuuri,” says Peter Aho, CEO of Administer Group.

“The transaction gives Konjunktuuri an opportunity to focus more strongly on our core business, which is HR and translation services. After examining different alternatives, we found that by selling the payroll service business to Administer, we can best ensure that our payroll clients will continue to receive high-quality expert service while we can direct our resources into developing our main offering,” says Atte Solaranta, CEO of Konjunktuuri.

More information:

Peter Aho
CEO
Administer Group
Tel. +358 40 501 3661
peter.aho@administer.fi

Atte Solaranta
CEO
Konjunktuuri Oy
Tel. +358 504 077 620
atte.solaranta@konjunktuuri.fi

Administer Group, founded in 1985, is a Finnish company that offers financial and payroll management services as well as consulting and software services. Our customers include organisations of all sizes, from small and mid-sized companies to large enterprises and municipalities. Our goal is to reform the financial management service market by developing new technologies and solutions. Measured in revenue, we are one of the largest providers of financial management services and HR and payroll services in Finland. In 2020, our revenue was EUR 44 million and we employed approximately 600 financial management professionals.

Konjunktuuri Oy, founded in Varkaus in 1989, is a company specialising in HR services, translation services and international mobility services. Our company has three offices in Finland, in Varkaus, Espoo and Joensuu. We provide our clients with high-quality service scaled to their individual needs. Our clients include major global and international enterprises in our operating area, the subcontracting sector, and local SMEs. Konjunktuuri currently employs 22 experts from different fields, and our vision is to become the most desirable service partner in our lines of business.