The Finnish Administer Oy acquires Silta Oy from Sentica’s equity fund and the company’s executive management. The deal makes Administer the biggest payroll service company in Finland.
We are proud to communicate that one of Integra International European members, Administer Oy became the largest payroll service company in Finland thanks to the recent acquisition of Silta Oy. Such important achievement will indeed also positively reflect on the effectiveness and presence of our association in Europe but also internationally.
Administer is a Finnish authorized accounting firm specialized in electronic financial management services. With this acquisition, Silta Oy will become part of Administer Group, whilst retaining its current name and brand. The company, founded in 2001, has operations in four locations in Finland and a subsidiary in Tallinn, Estonia.
“With the acquisition, Administer strengthens its expertise in payroll and HR services. In the future, we will create new, high-quality and technologically advanced services to support the business of our extensive customer base,” says Peter Aho, CEO and largest shareholder of Administer.
“By joining forces and expertise with Administer Group, we can take payroll and HR services to a new level. In addition, we can offer Administer’s extensive financial management services to our customers and gain synergies from the arrangement,” commented Tatu Tulokas, Managing Director of Silta Oy.
Administer Group, which offers comprehensive financial management services, had net sales of EUR 20 million in 2017, and the Group employs 400 people. Following the acquisition, the combined net sales will increase to approximately EUR 50 million and the number of personnel to nearly 700. Silta’s net sales in 2017 amounted to EUR 19 million and the company calculates approximately 110,000 pay slips a month.
The financiers of the company are Bocap Private Equity’s fund, Nordea Bank and mutual pension insurance company Elo. The arrangement makes Bocap a minority partner in Administer.
Silta’s management and approximately 270 employees will continue in their current functions.