As a co-entrepreneur with IQI – from a merger to a new beginning

From a merger to a new beginning – As the decision to cooperate with Voland approached, IQI’s Hannu Vähäsaari relied on the life advice he shared with his children. IQI was born from a merger that brought together two industry veterans. The private equity investment became a solution for corporate restructuring that took into account the different needs of the owners. 

Hannu Vähäsaari founded Profit Consulting Oy with his business partner 20 years ago. The company competed for clients whose needs were only met by the most skilled people in the industry. During the company's growth years, employees became a significant shareholder. The company's growth began to slow down around 10 million euros. 

Consultor Finland was in a different situation. The company was a pioneer in creating a network of IT freelancers and providing specialized expertise for demanding IT projects. The company's main owner was Solemo Oy, known for its SOL companies. Both companies were profitable companies with a turnover of around 10 million euros, and Voland recognized their potential. 

At Profit Consulting, growth began to be stifled by different ideas about how to achieve growth. 

“We stabilized around ten million for several years. Building the next phase of growth was more difficult.

According to Vähäsaari, the pressure for growth also increased from within. 

“Growth gives new opportunities and gives the staff a feeling that something is happening. On the other hand, at such a stage, there are also differences of opinion on how to cross the next growth threshold.” 

“The traditional way is to acquire more sales and recruit more staff. However, growth can also be a matter between the ears, meaning you have to decide to be bigger and not be satisfied with the current size.” 

Growth Capital investor as a partner

The timing was opportune when the first contacts between the future partners were made. Consultor and Profit Consulting were at a turning point in terms of the companies' future, where both were exploring different growth paths. 

“Our original idea was to base growth on acquisitions,” Vähäsaari says. 

The idea of ​​a venture capitalist getting involved was not a given for Vähäsaari. 

“I worked around the turn of the millennium and in a startup that had received venture capital investment. At that time, venture capitalists were reluctant to intervene in operational management. They tried to do things on behalf of management. For a long time, there was a bit of a rejection reaction,” Vähäsaari says. 

However, Vähäsaari saw something new in Voland.

“The first discussions showed that the world has also changed in the private equity sector, and that change is quite big. In Voland, it was seen as a genuine partnership. It was a positive surprise.” 

The relationship with the private equity investor also tested Vähäsaari’s life lessons, which he has passed on to his children. 

“I have often discussed with my children what this life is about: be brave, be curious and get good networks.” 

“All of these were essential with Voland, curiosity and courage to do things in a new way, as well as a network that genuinely helps.”

Private equity investment solves the needs of owners

As the discussions with Voland progressed, both Consultor and Profit Consulting became excited to explore the possibility of a merger. 

“This became a really crucial element for us. The merger and Voland’s arrival resolved many internal issues that arise when people start to develop different drivers and goals in life after a long period of joint entrepreneurship.” 

“Some of the staff wanted to move on to new tasks, but the majority saw this as an opportunity to invest more in a company they believed in,” says Vähäsaari. 

Vähäsaari praises Voland’s role in enabling the corporate and ownership arrangements. 

“Voland’s role was significant. We gained an objective view from their expertise that solved the different needs of the owners. Everyone has been satisfied with the end result.”

IQI became a company with a turnover of over 20 million euros and employing almost 80 experts. 

In addition to the name change, IQI has rapidly progressed with practical growth measures. In spring 2025, the company acquired Notkia IT from Tampere, whose expertise includes information systems for the social and health sector. 

The acquisition supports IQI's strategic core, which is based on the professionalism of the best experts and solving the most challenging tasks of its customers with high quality. 

“It is important to stick to what you do, know the market and constantly listen to the customer. This way you will maintain a sense of what the market wants.”  

“Keep your eyes peeled and let's go, as we like to say.”