Verston Group completes acquisition of Smartecon, making energy infrastructure a strategic growth pillar
On July 21, Verston Group completed the acquisition of the Estonian energy infrastructure company Smartecon, making energy infrastructure one of the Group’s strategic growth pillars alongside road and structural construction and maintenance. The transaction gives Verston the capability to deliver end-to-end energy infrastructure projects across the region and beyond.
The transaction received all required approvals, including unconditional clearance from the Estonian Competition Authority. The transaction was advised by PwC Estonia, KPMG Baltics, and Eversheds Sutherland.
Smartecon continues to operate under its own brand as a separate subsidiary within Verston Group. The company’s management, team, and day-to-day operations remain the same, so existing customers and partners can continue working with familiar people. Integration with the Group began at the end of May and will continue throughout 2026.
According to Veiko Veskimäe, co-CEO of Verston Group, energy infrastructure is now one of the group’s strategic growth pillars, alongside road and structural construction and maintenance.
“Smartecon has built strong expertise and a solid market position in energy infrastructure. By combining this with Verston’s operational capabilities, we can take on larger projects both in our region and beyond. We see strong synergy between road and energy infrastructure, particularly in large EPC (engineering, procurement, and construction) projects, where these capabilities form a single whole. Smartecon’s expertise also helps us accelerate the sustainability transformation of our existing infrastructure business by integrating energy solutions, electrification, and smart technologies into tomorrow’s transportation infrastructure.”
Together, Verston and Smartecon create a comprehensive offering that combines energy generation and storage solutions with broader infrastructure design and construction. Joint full EPC offerings for larger integrated projects are already underway.
According to Magno Kure, founder and CEO of Smartecon, joining the group opens doors the company could not have reached as quickly on its own.
“Smartecon has built strong engineering expertise, and Verston adds operational capability to deliver larger projects. For our customers, this means access to end-to-end energy infrastructure projects, and for our team, the opportunity to work on larger-scale projects across different fields and countries,” said Kure.
About Verston Group
Verston Group is an internationally growing infrastructure group founded in Estonia in 2010, and headquartered in Ülemiste City, Tallinn. In 2025, Verston Group’s revenue grew 53% to EUR 115 million, with net profit of EUR 1.7 million. The Group employs 440 people. Verston’s core capabilities span roads and highways, rail infrastructure, energy infrastructure, and multimodal and urban infrastructure.
About Smartecon OÜ
Smartecon OÜ is an energy infrastructure company founded in 2012 in Estonia, specialising in the design, construction, and maintenance of energy production and storage solutions. Over 14 years, the company has built more than 1,000 solar power plants across five countries. Consolidated revenue in 2025 was EUR 34.9 million.
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Anneliis Aun
Group Brand and Communications Manager