Wetteri Plc acquires Lahden Rekkapaja and executes a directed share issue
Wetteri Plc Stock Exchange Release 28 June 2024 at 13.00
Automotive growth company Wetteri Oyj acquires Lahden Rekkapaja Oy and Kiinteistö Oy Lahden Konekatu 3 and executes its fifth acquisition in its series.
Lahden Rekkapaja Oy is a company providing installation, maintenance, spare parts and repair services for heavy equipment bodybuildings. The company employs about 10 people.
In the transaction, the buyer is Wetteri Plc, to whom the entire share capital of Kiinteistö Oy Lahden Konekatu 3 and Lahden Rekkapaja Oy will be transferred to. The purchase price is a total of EUR 1.4 million. The purchase price will be paid for EUR 1.3 million in Wetteri Plc's new shares, in addition a cash payment of EUR 100,000 will be paid. Wetteri Plc implements the directed share issue as a payment of the purchase price with the authorization of the Board of Directors. The subscription price of the Wetteri Plc shares to be issued as consideration for the purchase price shall be determined in accordance with the share price at the time of the execution of the transaction. The implementation of the transaction will take place on 28th June 2024. The transaction has no impact on Wetteri's financial guidance.
Aarne Simula, CEO and President, Wetteri Plc:
"Lahden Rekkapaja is an expert in the heavy equipment bodybuilding and maintenance. This is an excellent addition to our heavy equipment network and supports our ambitions to grow the bodywork business as well.”
More information:
Aarne Simula, CEO and President, Wetteri Plc:
Tel. +358 400 689 613, aarne.simula@wetteri.fi
Wetteri Plc – an entrepreneur-driven growth company in the automotive sector
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 50 locations in Finland. The company employs nearly 1,000 people, of whom around 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/