Sampo-Rosenlew Oy Ltd

Transfer description

Sampo-Rosenlew Ltd was founded in the beginning of 1990’s by Mr. Timo Prihti to continue the Combine Harvester production which otherwise had been shut down by Metso Plc. Mr. Prihti found soon that one product is not enough and started engineering and manufacturing of forest harvester. Furthermore, contract manufacturing of components to other engineering companies as well as engineering and manufacturing of industrial parts washing machines became as third and fourth branches of the company within the 1990’s. Within the next decade the hydraulic motors and rotators were included to the portfolio of SampoRosenlew group by acquiring Metso Hydraulics Ltd which got a new name Sampo-Hydraulics.

Mr. Timo Prihti’s son Mr. Jali Prihti had worked in the company from late 1990’s and it was clear that Jali would follow his father as entrepreneur. The arrangements were started in 2003 when Metso-Hydraulics was acquired and Mr. Jali Prihti became minority owner of Sampo-Hydraulics. After that a new company, which took responsibility of subcontracting business, was founded. A few years later the diffusion was done, and Sampo-Rosenlew Group was divided into two parts: Sampo-Rosenlew Ltd, which takes care of the production, and SR-Kiinteistöt Ltd, which owns and rents the facilities. Mr. Jali Prihti got majority of shares but Mr.Timo Prihti retained the right to vote and the right to certain part of dividend. Mr. Jali Prihti’s part of dividend enabled the payment of legacy duties.

The change in the operative management was realized in 2009 when Mr. Timo Prihti became as the Chairman of the Board, and his son was nominated as the CEO of Sampo-Rosenlew Ltd. At the moment Mr. Jali Prihti is both the CEO and the Chairman of the Board and Mr. Timo Prihti
is the Member of the Board.

Mr. Prihti has also another child, daughter, who is not interested in the business. The equality between two heirs was borne in mind during the arrangements. The lesson was that most important in transferring the business to the next generation is to plan it well, start it early enough and to realize the plan consistently. Timo Prihti retained the right to vote and the right to certain part of dividend. Mr. Jali Prihti’s part of dividend enabled the payment of legacy duties.

The change in the operative management was realized in 2009 when Mr. Timo Prihti became as the Chairman of the Board, and his son was nominated as the CEO of Sampo-Rosenlew Ltd. At the moment Mr. Jali Prihti is both the CEO and the Chairman of the Board and Mr. Timo Prihti is the Member of the Board.

Mr. Prihti has also another child, daughter, who is not interested in the business. The equality between two heirs was borne in mind during the arrangements.

The lesson was that most important in transferring the business to the next generation is to plan it well, start it early enough and to realize the plan consistently.


Facts

PreviousCurrent
OwnerTimo Prihti (majority)Jali Prihti (majority)
Legal form of the
company
LtdLtd
Number of employees 400400
BrandModel of transferInvolved institutionCountry
Engineering1 Family transferAuditorFinland
Made by Marzena Grzesiak and Anita Richert-Kaźmierska within project INBETS WP 2