Green Landscaping Group continues its establishment in Finland through the acquisition of the landscaping company Rainset Oy
26 January 2022, 09:00 CET
Green Landscaping Group AB (publ) has acquired Rainset Oy with a turnover of approximately EUR 4 million. The acquisition is the third in Finland and a further step on the way to establishing our platform of entrepreneurial quality companies in Finland.
Rainset is a landscaping company run by the brothers Arto and Tero Kontio. The company has its hub in Helsinki and has sales of approximately EUR 4 million through its service delivery, mainly to construction companies. The company currently has 13 employees.
- Our business model has once again proved strong as our network of entrepreneurs has given us the contact with Rainset, which after some time of discussions landed in us finding a common way forward, says Atle Roll-Matthiesen, acting. Regional Manager Finland, Green Landscaping Group.
- It has not been easy to let go of the 100% ownership in Rainset, but with the business model that was presented to us, we just could not help but take the step to Green Landscaping Group. We like the ownership side and already have a very good contact with other Finnish companies in the group. With our reinvestment in Green Landscaping Group, we also preserve the basic conditions in our entrepreneurship. We look forward to starting the second chapter for Rainset and our fantastic employees, says Arto Kontio, Managing Director, Rainset Oy
- We continue to see great opportunities to add more quality companies to us and with Arto and Tero on board, we will further strengthen our network in the Finnish market. We wish all the employees in Rainset a warm welcome, concludes Atle Roll-Matthiesen, acting Regional Manager Finland, Green Landscaping Group.
Green Landscaping Group acquires 100 percent of the shares in Rainset Oy with immediate access. The acquisition is financed within existing credit facilities and through a non-cash issue of own shares. The Board has therefore, within the scope of the authorization from the Annual General Meeting on 14 May 2021, decided on the issue of 46,545 shares in Green Landscaping Group, aimed at the sellers of Rainset Oy. This corresponds to a dilution of 0.1% of the share capital and votes in the Green Landscaping Group. The total number of shares in Green Landscaping Group after the issue are 53,142,631 shares.
The previous owners of Rainset Oy are now shareholders in Green Landscaping Group.
The information was, through the contact person below, submitted for publication on 26 January 2022 at 09:00 CET.
For more information:
Atle Roll-Matthiesen, acting Regional Manager Finland, Green Landscaping Group AB
+47 909 00 112, atle.roll@glgroup.no
Carl-Fredrik Meijer, CFO & IR, Green Landscaping Group AB
+46 70 108 70 19, carl-redrik.meijer@glgroup.se
Green Landscaping Group AB (publ) is the Nordic leading player in ground maintenance and landscaping of outdoor environments in Sweden. Our business concept is to enhance the customer's outdoor environment by offering services focused on high customer value, long-term sustainability, and quality. The Company has approximately 1,350 employees and sales amount to approximately SEK 2 billion. The Company's shares are listed on Nasdaq Stockholm with the ticker GREEN. For more information visit www.glgroup.se.
Rainset Oy is a Finnish family business founded in 2003. The company specializes in landscape architecture and stonework. The company has 13 employees and offers its customers tailor-made solutions according to their wishes and operational needs. For more information visit www.rainset.fi
