Vexve Welcomes Tuure Stenberg to Board as Non-Executive Director
Company - People | Mar 06, 2025 | DevCo Partners Oy
Vexve Group Oy, a leading provider of valve solutions for the energy infrastructure sector, has appointed Tuure Stenberg as a non-executive director to its Board of Directors starting May 28, 2025. Stenberg brings significant expertise from his role as CEO of Simap, a company specializing in centralized smart heating regulation systems. This appointment replaces Tomio Pihkala, who served on the board for nine years and contributed to a fivefold revenue increase for the company. Underlining the company’s mission in sustainable energy infrastructure, the appointment highlights DevCo Partners’ strategic focus on leveraging industry expertise to drive growth in niche markets. Vexve's board now consists of Kari Lehtinen (Chairperson), Otto Kukkonen, Nick Adcock, Linda Plsson, Markku Simula, and Tuure Stenberg. DevCo Partners, majority owner of Vexve, aims to bolster the company's leadership in the transition to low carbon solutions.
Sectors
- Energy Infrastructure
- Private Equity
- Manufacturing
Geography
- Finland – Both Vexve and its majority owner, DevCo Partners, are based in Finland, which plays a significant role in their corporate activities and strategic orientation.
- Europe – Vexve is a leading provider in Europe, emphasizing its market influence and operational footprint across several European countries including Finland, Denmark, Czech Republic, and Germany.
Industry
- Energy Infrastructure – Vexve operates in the energy infrastructure industry, providing valve solutions essential for energy distribution and management, particularly in sustainable energy transitions.
- Private Equity – DevCo Partners, a key participant in the article, is a private equity firm investing in niche markets with significant influence over its portfolio companies, including Vexve.
- Manufacturing – Vexve's operations in producing valve solutions for industries engaging in energy infrastructure and energy-intensive sectors position it in the manufacturing industry.
Financials
- Not specified – Financial specifics such as investment amounts or revenue figures, apart from the mention of fivefold revenue growth, are not detailed in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Vexve Group Oy | Target Company | Company | A leading European provider of valve solutions for the energy infrastructure and energy-intensive industries. |
| DevCo Partners Oy | PE Firm | Company | A private equity firm that actively manages its portfolio companies and supports their strategic and operational growth. |
| Tuure Stenberg | New Board Member | Person | Appointed as a non-executive director of Vexve Group Oy, bringing extensive experience from the energy infrastructure sector. |
| Tomio Pihkala | Outgoing Board Member | Person | Former board member of Vexve, noted for his contributions to the company's significant revenue growth during his tenure. |
| Otto Kukkonen | Partner at DevCo Partners | Person | Contact person for further information about the developments at Vexve and DevCo Partner's involvement. |