Espoo, April 1, 2026.

Paree Group appoints a new CEO to support the group’s transition to its next growth phase  

The Board of Directors of the Finnish family-owned Paree Group has appointed Annika Jyllilä-Vertigans as the company’s new CEO as of April 1, 2026. The appointment brings clarity to Paree Group’s role and lays out the foundation for the next phase of growth and renewal. As business founded in Kauhajoki in 1973 and nowadays known as Paree Group Oy, the group consists of the parent company Paree Group Oy and its four subsidiaries: Innokas Yhtymä Oy, Vieser Oy, Cubist IT Ab and Serres Oy. The group operates in the MedTech and the built environment industries.

“Paree Group is entering a new phase. The recent ownership arrangement of Serres is a significant change for us, bringing additional resources and accelerating the development of our operations. Our goal is to clarify Paree’s role and strengthen the growth of our subsidiaries. Annika has successfully led a transformation at Vieser and knows the Group very well. She is therefore in an excellent position to lead Paree through this phase,” says Kimmo Jyllilä, Chair of the Board of Paree Group.

Annika Jyllilä-Vertigans has extensive experience in leadership and board roles. She has served as CEO of Vieser Oy and as a board member of Paree Group, and Vieser and Serres. Annika has also served as Chair of the Board of Design Forum Finland and as Chair of the Sustainability Working Group of the Finnish Family Firms Association, where she has been committed to advancing international impact initiatives among family businesses.

“We will build Paree Group into an even more impactful entity over the long term. Going forward, we will focus on developing sustainable businesses that take their operating environment into account. Paree, in turn, will focus more clearly on its role as an owner and enabler of its subsidiaries’ growth,” comments Annika Jyllilä-Vertigans.

Current CEO Mika Hagberg will step down at a point when a long-term development project has been completed. He will continue as an advisor to the CEO during the transition period.

“I would like to thank Mika for his excellent collaboration and his long-term contribution to developing the Group. He has consistently demonstrated strong commitment to Paree and its people and has driven forward key initiatives for the organization with determination. He has also played a central role in building Paree’s strong foundation and leading major development phases. This provides a solid basis for the future,” continues Kimmo Jyllilä.

“I would like to thank the entire Paree organization for the trust over the years. I originally joined the company for what was intended to be a few-year project, but it turned into a 25-year journey. Now that this project has been completed, it is a natural moment to pass on the responsibility. I wish Annika and everyone at Paree every success in the future,” says Mika Hagberg, outgoing CEO of Paree Group.

Paree Group is a Finnish family-owned company employing approximately 395 people, with revenue of EUR 73 million in 2025. The company has operations in Kauhajoki and Kempele, and it is headquartered in Espoo.

For further information, please contact:

Kimmo Jyllilä, Chair of Paree Group Tel. +358 40 502 5105, email: kimmo.jyllila@paree.com

Annika Jyllilä-Vertigans, CEO of Paree Group as of April 1,2026 Tel. + 358 40 066 1252, email: annika.jyllila-vertigans@paree.com

About Paree Group

With heritage in innovation dating back to 1973, Paree Group is a family-owned entity of ambitious companies that together create impact today for a healthier and more sustainable future. The Group employs approximately 395 people, and its total revenue in 2025 was EUR 73 million. www.paree.com

Espoo, Finland, January 20, 2026. G Square, a leading European healthcare private equity investor focusing on mid-market companies with high growth potential, has signed an agreement to acquire a majority stake in Serres, a global forerunner in sustainable surgical fluid management solutions, to accelerate its global expansion and sustainability leadership.  

Paree Group, the long-standing family owner, will retain a significant stake and continue as a strategic partner in Serres’ next phase of development. G Square brings deep healthcare expertise and an established track record of helping innovative European companies in scaling internationally. G Square and Paree Group aim to develop Serres into a leading international MedTech platform through investment in new products, commercial capabilities, as well as targeted acquisitions to strengthen its market reach.  The transaction positions Serres to build on its leading position in Europe, accelerate its growth in the United States, and expand its footprint globally. The transaction is expected to close in the first quarter of 2026.

“Serres is one of the Finnish industrial success stories. After decades of continuous development, we see enormous potential ahead requiring greater international reach and resources than we could deploy alone. G Square brings deep healthcare expertise, global networks, and the financial strength needed to elevate Serres to the next level. This partnership is a natural and very positive continuation of our long-term commitment to the company,” says Kimmo Jyllilä, Chair of the Boards of Paree Group and Serres.

“Serres is an outstanding company; a true European champion in its field with world-class sustainable products and a strong culture of innovation. The company has built a unique platform with strong potential to grow globally,” says Oliver Hoenich, Partner of G Square. “We are excited to partner with the Jyllilä family to support Serres and its management team in accelerating growth, widening international reach and strengthening Serres’ leading market position in sustainable solutions for surgery and intensive care,” adds Yasemin Arik, Partner of G Square.

Founded over five decades ago, Serres has grown as a family-owned company based in Kauhajoki, Finland, into one of the global leaders in surgical fluid management. Its high-performance suction bags and fluid disposal solutions are used in more than 80,000 surgical procedures every day and trusted by 50% of the world’s Top 100 hospitals. The company’s production facilities in Kauhajoki and Saarijärvi are among the most advanced in the field in automation. Long before sustainability became a healthcare priority, the company embedded circularity and efficiency into its products and operations.

“Sustainability is not just an add on for us; it is the foundation of our strategy and a major differentiator in the market, embedded across our entire value chain. The demand for sustainable single-use solutions is accelerating globally, and Serres is exceptionally well-positioned to lead this transformation. With G Square, we gain the support needed to expand faster and serve more hospitals worldwide with safe, efficient and environmentally responsible fluid management solutions,” says Nicke Svanvik, CEO of Serres.

For further information, please contact:

Paree Group and Serres:

Minna Sundelin, Communications consultant

Fama Consulting Oy Ltd.

+ 358 40 582 2750

Minna@fama.fi

G-Square:

Oliver Hoenich, Partner

Yasemin Arik, Partner

+442037570160
contact@gsquarecapital.com

About Paree Group

With heritage in innovation dating back to 1973, Paree Group is a family-owned entity of ambitious companies that together create impact today for a healthier and more sustainable future. The Group employs approximately 440 people, and its total revenue in 2024 was EUR 75 million. www.paree.com

www.paree.com

About Serres

Serres brings responsible workflows to the operating room by making surgical suction and fluid disposal safe and sustainable. A progressive leader in smart and sustainable surgical fluid management, Serres serves, through their trusted distributor partners, more than 10,000 hospitals in over 50 countries. The company is headquartered in Kauhajoki, Finland, with world-class production in Kauhajoki and Saarijärvi, Finland. Serres has over 175 employees and reported turnover of EUR 38 million in 2024.  www.serres.fi

About G Square

G Square, founded in 2008, is a leading investment firm specialising in the healthcare sector primarily across Europe. Fuelled by a deep-rooted passion for healthcare, G Square leverages its extensive industry knowledge, strategic relationships, and operational expertise to invest in innovative healthcare companies with high growth potential. 

www.gsquarecapital.com

Sustainability continues to be a key focus area at Innokas – as a CDMO, we recognize our role in influencing sustainability across the entire value chain. Sustainability is built into our values, mission, and strategic planning.  

‍In 2024, we revisited the basics of our sustainability planning and reporting work started in 2023. Our sustainability roadmap target setting was updated and now includes four targets. In addition, during 2024, team Innokas chose four relevant targets of the UN 17 SDGs, which were added to the roadmap and will be integrated into detailed target setting during 2025. The start of planning for detailed KPIs including our climate goals for our updated target setting is taking place during 2nd half of 2025.

Innokas Sustainability Report 2024 (pdf)

Message from CEO

Sustainability is a fundamental principle rooted in everything we do. In 2023, we at Serres defined our sustainability
roadmap to guide us ambitiously and systematically toward the targets set around the central themes presented
in this sustainability report 2024.

View Sustainability Report (pdf)

Vieser Sustainability Report 2024

Vieser releases Sustainability 2024 report which follows Sustainability Report 2023 and highlights latest achievements in terms of Vieser’s sustainability targets and focus areas.

Highlights of 2024

In 2024, Vieser took steps forward to reach ambitious sustainability goals by e.g. reviewing the 2023 Double Materiality Assessment, developing Circular Economy practices and improving the quality and scope of CO2 emissions calculations data. In addition, Vieser significantly improved its Carbon Disclosure Project (CDP) scoring, exceeding the current SME standard.

View Sustainability report (pdf)

Paree Group, Serres, and Vieser have been awarded the Finland’s Most Inspiring Workplaces 2024 recognition. This distinction highlights a high level of employee commitment and a long-term, inclusive approach to business development. It is awarded annually to organizations that participate in Eezy Flow’s PeoplePower® survey and achieve exceptionally great employee survey results.

Paree Group, Serres, and Vieser have made significant investments in employee well-being. The strength of these companies lies not only in employee satisfaction but also in their ability to adapt and evolve in an changing business environment. This recognition emphasizes the long-term and inclusive development efforts that have enabled the organizations to achieve continuous success.

“A positive employee experience has been proven to impact the overall performance of an organization. Employees directly influence customer experience, which is why investing in employee experience over the long term is crucial. It can create a significant competitive advantage. The past year has been challenging for many industries. Despite — or perhaps because of — these challenges, strong leadership and a focus on employee experience have delivered outstanding results.”
— Johanna Lehmus, Director, Research & Insights, Eezy Flow

This recognition is also a clear indication that our companies have successfully created a work environment where employees can grow and feel valued. It sends a strong message that we strive to be an inspiring workplace — one that attracts new talent while keeping our current employees motivated and satisfied.