Inside information: Remondis to acquire Delete; Delete Group Oyj announces a voluntary and conditional redemption of all its senior secured notes maturing in 2024

Delete Group Oyj | Inside information | 12 May 2023 at 5:35 p.m. EEST 

Delete Group Oyj ("Delete") announces that its shareholders have on 12 May 2023 signed a binding sale and purchase agreement with Remondis Maintenance & Services International GmbH ("Remondis") regarding the sale of all the shares in Delete (the "Transaction"), which is subject to customary closing conditions including approvals by relevant competition authorities required to complete the Transaction (the "Competition Clearances"). The parties have agreed not to disclose the financial details of the Transaction.

“Delete has been under Axcel’s ownership since 2013, and in this period, we have carried out a series of acquisitions in Finland and expanded into Sweden, mainly within the cleaning services market. Over the last few years, we have divested the non-strategic parts of the business to reinforce Delete’s clear stronghold within high quality cleaning services in both Finland and Sweden. We are very thankful for Sirpa Ojala and her team’s hard work and efforts to rescope the company, and we wish them all the best in their new partnership with Remondis”, says Managing Partner at Axcel Christian Schmidt-Jacobsen.

“As one of the leading international providers in industrial cleaning services, the acquisition of Delete is a unique opportunity to grow in one of our core businesses in Scandinavia. Delete with its long experience in the industrial cleaning sector and its highly competent employees is well known in the Nordic market, has a good market reputation and is a strong and well-known brand. In connection with our existing industrial cleaning activities within Buchen and Reym, we see Delete as an equal partner in our family and would like to successfully move forward together. We warmly welcome our new colleagues“, says Managing Director of Remondis Maintenance & Services Juergen Lennertz.

Pursuant to the Transaction and in accordance with the terms and conditions (the "T&C") of its senior secured notes maturing in 2024 (ISIN FI4000252119) (the "Notes"), Delete hereby announces a voluntary redemption of all the outstanding Notes (the "Redemption"), which is conditional on the completion of the Transaction.

The Transaction is expected to be completed in 2023 (the "Closing Date") and the exact Closing Date will be confirmed once the Competition Clearances have been received. In accordance with the T&C, the Redemption will be made at an amount equal to 101 per cent of the prepaid nominal amount per note together with accrued but unpaid interest (until and including the Closing Date) (the "Redemption Amount"). On the Closing Date, funds sufficient to cover the Redemption Amount will be paid into a blocked account of Delete held with Nordea Bank Abp (the "Escrow Account") from which the funds will be used on the next business day following the Closing Date towards the Redemption (such date, the "Redemption Date"). The security and guarantees granted as security for all of Delete's obligations under the Notes (other than the security granted over the Escrow Account) will be released by the security agent, Nordic Trustee Oy, on the Closing Date once the Redemption Amount has been paid into the Escrow Account.

FOR FURTHER INFORMATION, PLEASE CONTACT

Delete Group Oyj

Ville Mannola, Group CFO

email: ville.mannola@delete.fi

tel. +358 400 357 767

DELETE GROUP IN BRIEF

Delete Group is a leading provider of environmental services in the Nordic countries. The Group provides customers with business-critical services that require special expertise and equipment for cleaning services. The Group's head office is located in Vantaa and it employs approximately 675 professionals in 29 locations in Finland and Sweden. www.deletegroup.fi