Componenta completed the acquisition of Komas Oy
Componenta Corporation Stock Exchange Release on 30 August 2019 at 14.10
Componenta Corporation has today completed the acquisition of Komas Oy, announced on 16 May 2019, from funds managed by CapMan, Fortaco Oy and certain private individuals. The necessary approvals from the authorities have been obtained for the acquisition, and the usual terms of business acquisitions have been fulfilled.
The purchase price of the acquisition was paid by issuing shares in the company to the sellers in accordance with the authorisation granted by Componenta’s Extraordinary General Meeting held on 1 July 2019. The purchase price consisted of 60 million new shares issued by Componenta which, after the new share issue, represent approximately 25.3 per cent of the outstanding shares in the company. The purchase price was determined according to the share price at the time of closing the transaction and was EUR 7.8 million.
Following the acquisition, Componenta becomes Finland’s leading manufacturer of metal components. The acquisition of Komas expands Componenta’s range of products and services and improves the quality of Componenta's customer service by creating a one-stop-shop for industries that purchase cast and machined components. Componenta and Komas already have several common customers. Komas will also bring new expertise to Componenta.
Following the closing of the acquisition, the Group has some 800 employees in eight locations in Finland and one in Sweden. The company provides cast and machined components, forged blanks, hydraulic pipes and plate cuttings to global manufacturers of vehicles, machines and equipment.
For further information, please contact:
Harri Suutari, member of the Board of Directors, tel. +358 40 038 4937
Componenta is an international technology company. Componenta specializes in supplying cast and machined components to its global customers, who are manufacturers of vehicles, machines and equipment. The company’s share is listed on Nasdaq Helsinki.