BOREO PLC Investor news 19 September 2022 at 09:45 EET
Boreo’s subsidiary Floby Nya Bilverkstad acquires Lackmästar’n i Håkantorp AB
Boreo’s subsidiary Floby Nya Bilverkstad AB (“FNB”) has on September 19, 2022 signed a share and purchase agreement to acquire the entire share capital of Lackmästar’n i Håkantorp AB (“Lackmästarn”), from CEO Anders Karlsson.
The add-on acquisition supports FNB’s growth ambitions and enables the company to serve its customer with increased efficiency, through improved production and paintwork planning. Lackmästarn has been a long-standing provider of paintwork for FNB and this acquisition allows FNB to better serve its customers operating timber trucks.
Lackmästarn founded in 1982, is an established provider of professional paintwork and blasting treatment for large vehicles, comprising of mainly trucks and buses. The company has built a loyal customer base during its 40 years in the business, consisting of Swedish vehicle distributors, re-sellers, operators and insurance company damage repairs. The company has 10 employees with operations located in Håkantorp, Sweden. In FY 2021, Lackmästarn had revenues of c. SEK 10.4 million and an EBITDA of c. SEK 1.1 million.
The fixed purchase price for the shares is c. SEK 5.2 million based on a SEK 4.3 million enterprise value.
Closing of the transaction is expected to take place in the beginning of October 2022 and Lackmästarn will be reported under Boreo’s Heavy Machines Business Area.
Vantaa, 19 September 2022
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Lackmästar’n i Håkanstorp AB - Key financials
Total assets, SEKm
Net debt, SEKm
Boreo in brief:
Boreo is a company listed on Nasdaq Helsinki that creates value by owning, acquiring and developing small and medium sized companies in Northern Europe. Boreo's business operations are organized into three business areas: Electronics, Technical Trade and Heavy Machines.
Boreo’s main objective is to create shareholder value in the long-term. It aims to achieve this with an acquisition-driven strategy, creating optimal conditions for its businesses to increase sales and improve profitability, and by being a best-in-class home for its companies and personnel.
The Group's net sales in 2021 were EUR 122 million and it employs some 300 people in seven countries. The company’s headquarter is in Vantaa.