Boreo strengthens its technical business area with the strategic addition of Filterit Oy.

BOREO PLC Investor News 20 December 2022 at 09:00 EET

Boreo strengthens its technical business area with the strategic addition of Filterit Oy.

Boreo Pvt. On December 20, 2022, a share purchase agreement was signed for the entire share of Filterit Oy (“Filterit” or the “Company”) from CEO Oli Sainevirta through the Company and Johnny Mavaori (“Sellers”). The company will continue to operate independently after the transaction, as the Boreo Technical Business Business Area, headed by Olli Sanevirta.

“Filterit is a great company with a strong position in filtration, UV-disinfection and water treatment for industry and municipalities. Due to its business model and financial profile, the company fits well into our technical business environment and is an exciting new opening for a new industrial environment. Boreo’s main business “We warmly welcome the company and its vendors and are grateful to be given the opportunity to support the refinery’s future journey,” said CEO Kari Nerg.

Founded in 2005, Filterit is a technical distributor of process filtration products and systems. The company is involved in liquid and gas refining and its customer base consists of several industrial companies and public sectors. Filterit has 8 employees located in Helsinki, Finland. In the year In 2021, the company’s c. EUR 3.3 million and EBITDA of c. 0.4 million euros

The transaction consideration includes a fixed purchase price payable in cash at closing and Boreo issuing. EUR 0.4 million shares to the sellers (9 645 shares at €41.48). In addition, Boreo may pay revenue to sellers based on Filterit’s results in 2023-2024. Further information on the share issue has been released in a separate stock exchange release on 20.12.2022.

The story continues

The transaction is expected to close on 01.01.2023. Filtering will be reported in the Boreo Technical Business Business Area.

Vantaa, December 20, 2022

Boreo Pvt
Carrie Nerg
General manager

Distribution:
NASDAQ Helsinki Ltd
Mainstream media
www.boreo.com

Additional information:

Carrie Nerg
General manager
Phone +358 44 341 8514

I am Rampunen
C.F. oh
Phone +358 40 556 3546

Filterit Oy key financial¹

[1]Key financials are based on Finnish Accounting Standards (FAS), financial year ending 31.12.

Boreo in brief:

Boreo is a company listed on Nasdaq Helsinki and creates value by owning, acquiring and developing small and medium-sized companies in Northern Europe. Boreo’s businesses are organized into three business areas: Electronics, Technical Business and Heavy Machinery.

Boreo’s primary objective is to create shareholder value in the long term. It aims to achieve this through an acquisition-based strategy, creating favorable conditions for its businesses to increase sales and improve profitability, and to be the best home for the companies and their employees. .

In the year In 2021, the group’s net sales will be 122 million euros and it employs around 300 people in seven countries. The company is headquartered in Vantaa.