Boreo Oyj completed the acquisition of Filterit Oy from Olli Säynevirta and Jouni Maavuori.
Boreo Oyj (HLSE:BOREO) entered into an agreement to acquire Filterit Oy from Olli Säynevirta and Jouni Maavuori on December 20, 2022. The transaction consideration comprises of a fixed purchase price payable at closing in cash and by Boreo issuing 0.4 million in shares to the Sellers. Boreo will issue 9,645 shares at unit price of 41.48 as consideration. Boreo may pay an earn-out to the Sellers subject to the results of Filterit in years 2023-2024. Filterit will continue operating independently after the transaction, as part of Boreos Technical Trade Business Area, led by Olli Säynevirta. In 2021, the Company had revenues of 3.3 million, EBITDA of 0.4 million, Total assets of 1.5 million and Equity of 1.1 million. The closing of the transaction is expected to take place on January 1, 2023.
Boreo Oyj (HLSE:BOREO) completed the acquisition of Filterit Oy from Olli Säynevirta and Jouni Maavuori on January 2, 2023.