PRESS RELEASE December 9, 2025
Auroora Yhtiöt Oyj acquires Heatmasters Oy, a leading expert in industrial heat-treatment solutions
Auroora Yhtiöt Oyj has acquired the entire share capital of Heatmasters Oy. This acquisition is Auroora’s ninth in 2025 and adds a strong, highly profitable heat-treatment–focused product and service company to the group’s Industrial Products and Services segment.
Heatmasters Oy is a Finnish heat-treatment expert founded in 1974, providing metal heat-treatment services and equipment, and related lifecycle services. The company operates in four locations in Finland and Poland and employs approximately 40 professionals. Heatmasters has a long track record in international markets and serves more than 600 customers across around 30 countries on five continents. The company has a broad and well-established customer base, a comprehensive distributor network, and a strong position across multiple industrial sectors, including energy, defense, oil refining, and machine manufacturing. For the fiscal year ended October 2025, Heatmasters Group reported revenue of EUR 6.8 million.
Strengthening Auroora’s industrial offering and sustainable international 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 levels,” 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.
www.heatmasters.net