Wetteri buys Suvanto Trucks Oy with a 100% share exchange, starts to build a national sales network for used trucks

Wetteri Plc Press release 29 February 2024 at 11:00 EET

Automotive growth company Wetteri Oyj will strengthen its heavy equipment business as Suvanto Trucks Oy becomes part of the Wetteri Group from 1st March 2024. The market area of Wetteri's heavy equipment business will expand significantly.

With the Suvanto Trucks deal, Wetteri's used truck sales market area will expand to cover the economic areas of the capital region, and cities of Tampere and Turku, where the number of truck fleets is approx. 2.5 times larger than Wetteri’s traditional heavy equipment market area in Northern Finland. The transaction will also strengthen Wetteri’s position in accessories and installation services as Suvanto Trucks is an importer for AJK-hooks and PM-cranes.

Wetteri is a growth company in the automotive industry, whose goal is to become the largest and most profitable multi-brand car dealership in Finland by the end of 2025. During the last year, Wetteri has completed four acquisitions.

Aarne Simula, CEO and President, Wetteri Plc

"The consolidation of the automotive industry is a global phenomenon. Here in the domestic news, we have recently seen a lot of examples of the impact of the transformation, both from the perspectives of consolidation and operators who have run into financial difficulties. For Wetteri, the transformation in the automotive industry is a key driver of growth. In the industry there is interest towards similar arrangements as this share exchange we have now implemented. I'm excited about this deal, it's a good start to grow Wetteri's heavy equipment business even stronger."

Additional information:

Aarne Simula, CEO and President, Wetteri Plc
Tel. +358 400 689 613, aarne.simula@wetteri.fi

Wetteri Plc – An Entrepreneur-Driven Automotive Growth Company

Wetteri Plc is an entrepreneur-driven growth company in the automotive sector. The company engages in the retail sales of passenger cars, commercial vehicles, and heavy vehicles, and produces maintenance and repair shop services for vehicles, from passenger cars to heavy vehicles. Headquartered in Oulu, the company has 49 locations in Finland. The company employs around 1000 people, of whom nearly 70% work in maintenance and repair services. Wetteri promotes digitalisation in the automotive sector and is an important player on the common journey towards emission-free motoring. More information: sijoittajat.wetteri.fi/en/