Group Structure

The Group comprises the parent company, Tesi (Finnish Industry Investment Ltd), and its subsidiaries:

• FEFSI Management Oy (100% owned by parent company)
• Tesi Fund Management Oy (100% owned by parent company)
• Tesi Industrial Management Oy (100% owned by parent company)
• Aker Arctic Technology Inc. (66.4% owned by parent company)

Tesi operates as a minority investor. Our holding in portfolio companies is always less than 50%, although in the case of some investments the aggregated holding of investors might exceed 50%. One exception is Aker Arctic Technology Inc., in which Tesi has a majority holding.