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December 12, 2025
Auroora Yhtiöt Oyj has signed an agreement to acquire the entire share capital of Heatmasters Oy from Haarniska Industries Oy. The acquisition strengthens Heatmasters’ ability to continue its international growth and further develop its heat treatment solutions with the support of long-term ownership.
The transaction does not cause any changes to Heatmasters’ daily operations or cooperation with customers. Projects, services and deliveries will proceed as planned, and customers will continue to work with their familiar contacts.
Long-term ownership supports Heatmasters’ growth
The purpose of the acquisition is to combine Auroora’s long-term ownership and support model with Heatmasters’ technical expertise, customer relationships, and strong international networks.
“Auroora identifies heat-treatment and industrial service solutions as growing and profitable business areas in which Heatmasters has highly competitive technical know-how and an established market position. The company’s high quality, certified expertise and global reputation provide a solid foundation for stable and profitable international growth. In addition, its investments in carbon neutrality and green transition technologies align impeccably with Auroora’s values as an owner,” says Antti Rauhala, CEO of Auroora Yhtiöt Oyj.
“At Auroora, we can offer Heatmasters stable ownership, the resources needed for development, and strong support for continued international growth. Together, we can accelerate the company’s development to the next level,” Rauhala continues.
Heatmasters aims to strengthen its position in international markets
“Auroora’s long-term ownership model, which genuinely supports its companies, offers Heatmasters excellent conditions for growth. It enables us to further develop our business and strengthen our presence and position in the competitive landscape. We see significant growth potential in the energy sector, green transition solutions, as well as in the defense industry and heavy industrial applications. We believe Auroora is the right long-term owner to accelerate our development,” says Ilkka Mujunen, Managing Director of Heatmasters Oy.
Further information:
Antti Rauhala, CEO , Auroora Yhtiöt Oyj, +358 40 549 0080
Ilkka Mujunen, Managing Director, Heatmasters Oy, +358 40 871 0987
Auroora Yhtiöt Oyj – the Finnish compounder
Auroora Yhtiöt Oyj is a Finnish compounder, comprising over 20 SMEs employing approximately 800 people. In 2024, the company’s revenue amounted to EUR 143 million. Auroora grows through three business segments focusing on sustainable value creation and responsible solutions: Electrification and Automation, Clean Water and Environmental Technology, and Industrial Products and Services. Auroora is a long-term owner that retains its subsidiaries permanently, providing a platform for their growth.
www.auroora.com
Heatmasters Oy
Heatmasters Oy, founded in 1974, is a leading international expert in industrial heat-treatment solutions. The company provides metal heat-treatment services and equipment, and their lifecycle services for industrial needs. Heatmasters’ customers include companies in the process, energy, chemical, and heavy equipment industries, along with the defense sector, oil refineries, paper and pulp mills, offshore operators, machine shops, and foundries. The company employs approximately 40 people and operates in Finland, Estonia, and Poland.
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