Aaltovoima acquired back into Kare portfolio


Aalto personnel services - or Aaltovoima (wave power or by the name of the founder Jake Aalto) is a Finnish personnel service company founded in year 2005 and acquired by Norwegian Otiga Group in year 2016. Today, the company returs back to its founders and joins Kare Group as a part of Kare subsidiary Workteam Groupia.

After acquisition by Otiga Group, Aaltovoima has operated under various brands, latest being Folka personnel services. In the latest acquisition part of the operations from Folka are transferred to Workteam Group and will return to function under their old name Aaltovoima.

The arrangement takes place as a business transaction where industrial staffing is organised under Base Staffing and construction industry is organised under KVR-Vuokraus. Simultaneously KVR-Vuokraus will be renamed as Aaltovoima.

The original founder and the managing director for Kare Group Jake Aalto is very satisfied with the transaction: "Aalto staffing services was a forerunner in the Finnish staffing industry in the 2010's and the acquisition by Otiga was a significant development for the entire industry back in 2016. It's great to return to this brand and once again work with great clients and professionals within Aaltovoima!"

"This arrangement will transfer clients and staffing personel but not administrative staff from Folka. This arrangement helps us clarify our structure and helps us to serve our clients even better in the future. It's been a joy to work with all the clients and people in Aaltovoima." says CEO Heikki Lamminpää from Folka.

In 2022, Aaltovoima generated a turnover of 9,3 milj euros. With the acquisition, Workteam Group will steadily continue on its path to become one of the most significant staffing players in Finland.