From a ventilation company to a nationwide specialist in indoor climate and building services technology: Cervi surpasses €100 million in revenue

The company’s transformation has extended far beyond revenue growth. Cervi has evolved from a company focused on ventilation services into an organization whose expertise today spans ventilation, refrigeration, energy solutions and technical insulation. At the same time, a network of local specialists has grown into a nationwide organization employing more than 600 professionals across Finland. Since Intera became Cervi’s majority owner, a total of 32 companies have joined Cervi Group through acquisitions.

Acquisitions have expanded Cervi’s expertise and service offering

A significant step in broadening Cervi’s service portfolio was taken in 2021 when refrigeration expertise became part of the Cervi Group through an acquisition. Since then, Cervi has continued to strengthen its capabilities particularly in refrigeration and energy solutions. In 2026, technical insulation was established as a separate strategic business area.

Today, ventilation, refrigeration, energy solutions and technical insulation form a combined indoor climate and building services technology offering. Together, these services support building performance, energy efficiency, indoor conditions and user comfort.  

Despite the expansion of its operations, Cervi’s underlying approach has remained unchanged. The company continues to be built on strong specialist expertise across its different business areas.

“When Cervi was founded, we were a ventilation company. Today, we can view our customers’ properties and indoor environments from a much broader perspective. Cervi has not only grown; it has also developed into a different kind of company. Indoor climate and building services technology brings our areas of expertise together and enables us to support customers more comprehensively,” says Jarno Hacklin, CEO of Cervi.

Local expertise forms the foundation for national growth

Acquisitions have strengthened Cervi in two ways simultaneously: they have brought new technical capabilities into the company and expanded its service network across Finland.

Cervi’s operating model combines local entrepreneurship, customer knowledge and specialist expertise with the resources, investment capacity and collaboration opportunities of a larger group. The companies that have joined Cervi have brought deep expertise, long-standing customer relationships and regional market knowledge built over many years.

“Surpassing €100 million in revenue is an important milestone, but more important than the number itself is everything we have built along the way. Many highly skilled professionals and entrepreneurs have joined Cervi over the years. Their expertise, commitment and trust have played a key role in our development,” Hacklin says.

Next Target: €200 Million in Revenue

When Intera became Cervi’s majority owner at the end of 2022, the company set a target of reaching €100 million in annual revenue. That target has now been achieved ahead of schedule, and following recent acquisitions Cervi’s annual revenue exceeds €120 million.

“What attracted us to Cervi was its strong specialist expertise and its focus on key segments within indoor climate and building services technology. The company has already taken the first steps towards building a significant growth platform. It has been encouraging to see how well the operating model has been received by entrepreneurs and industry professionals alike. At the same time, Cervi has remained true to its foundations. The Group continues to be built on specialists rather than generalists,” says Tuomas Sarkola, Partner at Intera.

Reaching €100 million in revenue is not an endpoint for Cervi. The company continues to see growth opportunities in the Finnish indoor climate and building services technology market and has set a new target of €200 million in annual revenue. Growth will be driven by both the development of existing businesses and further acquisitions. Looking ahead, Cervi will also evaluate opportunities beyond Finland.

“The conditions for continued growth remain strong. Customers continue to value specialist expertise, and skilled professionals want to be part of organizations where their expertise is genuinely valued. Finland offers significant opportunities, while in the longer term it is natural for us to assess whether Cervi’s operating model could also be applied in international markets,” Sarkola says.