Working life company Barona has acquired a majority stake in Finland’s leading relocation services company, Finland Relocation Services (“FRS”). As part of Barona, FRS will continue as an independent business unit with the aim of developing the company’s offering and service model and creating more comprehensive service packages for the customers.
With the acquisition, Barona will significantly strengthen the services, processes and networks connected to work-related immigration and relocation. FRS’s operations and customer accounts also remain independent and unchanged.
Founded in 1999, Barona is Finland’s sixth largest employer and the country’s biggest staffing company. Every year, Barona employs more than 30,000 employees in various industries for customers and its own companies. Barona operates in more than 30 locations in Finland and internationally in 9 countries.
Services related to the international workforce are a clear strategic focus for Barona. Relocation services have been provided by the Barona Relocation business unit, which is to be merged with FRS in the future.
“We are very pleased with the starting collaboration with Barona. Our businesses have a lot in common, as our services are clearly linked to workforce and recruitment, which are Barona’s core business. Barona has a really large customer base both in Finland and in other Nordic countries, to which we can also offer FRS services in the future”, says Jyrki Lautjärvi, CEO of Finland Relocation Services, and continues:
“Our current customers will benefit from Barona’s ability to develop e.g. digital services and the fact that in the future they can, if they wish, streamline their service procurement by also acquiring recruitment services or language training through us. In addition, joining Barona provides our employees interesting career paths both in Finland and abroad.”
The founding family of Lautjärvi will continue as minority owners of FRS. Jyrki and Marjo Lautjärvi will continue in the company’s operational management until the end of 2021, after which they will continue to be involved in the company through ownership and board work. Petri Lautjärvi will continue in a leading role in the company after the arrangement in the longer term. Marina Velikova, Business Director of Barona Relocation, will also join FRS’s Management Team. The future management model will be decided during the autumn of 2021.
“Labor shortages are deepening further, and with the positive policies from the Finnish government, work-related immigration to Finland will increase significantly. By combining the strengths of Barona and FRS, we can better meet the different needs of the business community so that companies can procure all services related to labor mobility from a single provider”, says Business Director Velikova.