Relais Group Plc acquires remaining shares in Awimex International AB
RELAIS GROUP PLC COMPANY RELEASE December 16, 2019 at 9.15 P.M. EET
The Board of Directors of Relais Group Plc has in its meeting on December 16, 2019 decided to use the right to purchase the remaining 30 percent of shares in Awimex International AB from HISI Holding AB. The purchase price of the remaining shares to be paid in cash is SEK 22.2 million or EUR 2.1 million. The transaction is estimated to take place on December 20 at the latest. The transaction has no impact on the 2019 financial guidance of Relais Group.
The 70 percent majority stake in Awimex was acquired by Relais in 2017. Awimex is a Swedish technical wholesaler and importer specialized in innovative power management and lighting solutions primarily for light commercial vehicles. According to the agreement relating to minority shareholdingholding in Awimex, Relais has had the right to purchase from HISI Holding AB the remaining 30 percent stake in Awimex at any time.
Relais Group Plc
Further information:
Relais Group Plc
Arni Ekholm, CEO
email: arni.ekholm@relais.fi
+358 40 760 3323
Certified Adviser:
Evli Bank Plc, tel. +358 40 579 6210
Relais Group in brief
Relais Group is an importer and technical wholesaler that actively develops its vehicle electrical equipment and spare parts business operations in the Nordic and Baltic countries. Relais creates added value for its customers by offering vehicle spare parts, electrical equipment and specialist services throughout the life cycle of vehicles in a reliable, efficient and timely manner. As a strongly growth-oriented company, Relais aims to be an industry forerunner in the vehicle life cycle enhancement business. The reported net sales of Relais Group amounted to EUR 72.5 million in 2018 and, illustrating the impact of Relais' acquisition of ABR and Huzells in May 2019, the pro forma net sales of Relais Group amounted to EUR 119 million in 2018. The company employs more than 260 people in five countries.
www.relais.fi