|Citec's CEO Martin Strand
Citec was founded in 1984 by two engineers, Rune Westergård and Rolf Berg. Both founders shared a common drive; a passion to solve issues with new technology. Rolf Berg and Rune Westergård met in the late 1970s when they were both studying engineering in Vaasa, Finland. Rune had already thought about starting a company of his own, as he first and foremost wanted to design machines. The groundwork for the company was laid during their studies, when Rune worked as a freelance designer for a machine company over the summers. Nevertheless, after graduating Rune ended up as an employee of an established company after all, but the dream of running his own company was still very much alive. In 1984 the old school friends decided to found a machine engineering company called Tri-Technic. At the start, Rolf was the only employee and Rune helped on the side. The first large order came from a company called KWH.
1989 was the starting point for the fast growth that Citec has experienced ever since then. Rune decided it was time to take the next step and fully concentrate on the company and his focus was on actively selling the company's services. Rune and Rolf decided to join Avecon, a company working as an umbrella organisation and a common brand for several smaller engineering firms in the area. The business grew rapidly during the time in Avecon and the decision was made to buy it out.
In 1994 the company was renamed Citec and a new era began. The same year the company Citec Environmental was founded and the biogas and environmental business went into a dynamic phase. Citec Environmental was later incorporated into Citec Engineering.
Rapid growth continued in the new milennium, when in the year 2000, Nokia Networks outsourced their technical information department to Citec. The technical information business grew rapidly and Citec Information was founded as a separate company in 2001. In 2003 it was time for the next big outsourcing for the company, when Wärtsilä moved over 50 employees to Citec. The following year it was Citec Engineering’s turn for rapid growth. Citec's operations in India began in 2003 and today approximately one third of Citec’s employees are based in India.
In 2011 both companies - Citec Engineering Oy Ab and Citec Information Oy Ab – were consolidated into one group; Citec Oy Ab. A fund managed by Sentica Partners entered as the new majority shareholder with a 67 percent share and Martin Strand was appointed CEO. This brought in a new era for Citec as one strong international group.
Continuing to expand its offerings and competence, Citec acquired a number of companies during 2012, 2013 and 2014. Some of the key acquistions include Akilea Engineering in France and M7 Offshore in Norway and Singapore, in 2013, strengthening Citec’s position within the Oil and Gas Industry. In 2014, Citec acquired a Rail Vehicle and Aircraft engineering company, TGB, from Siemens. The same year, Citec entered into a very significant transaction with Cargotec, taking over its engineering unit in Pune, India. With the acquisition, Citec has fortified its competence in the Product development domain.