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.