Boreo has completed the acquisition of Delfin Technologies and agreed on an 8 million euro increase to its existing credit facilities
July 03 2023 - 7:00AM
Boreo has completed the acquisition of Delfin Technologies and
agreed on an 8 million euro increase to its existing credit
facilities
BOREO
PLC
Investor news
3 July 2023 at 15:00 EET
Boreo has completed the acquisition of Delfin
Technologies and agreed on an 8 million euro increase to its
existing credit facilities
Boreo Plc has today completed its acquisition of
Delfin Technologies Oy (“Delfin Technologies”, “Delfin” or “the
Company”), initially communicated in an Investor news on June 8,
2023. Boreo will consolidate the Company in its accounts from July
1, 2023 onwards.
In addition, Boreo has agreed with OP Corporate
Bank Plc to increase its existing 55 million euro credit facilities
by 8 million euro (“Financing Arrangement”). The terms and
conditions of the initial credit facilities agreement signed in
February 2022 remain intact and the proceeds from the now completed
Financing Arrangement are planned to be used for acquisitions and
the group’s working capital purposes.
”The Financing Arrangement strengthens the
group’s financial position and provides us with opportunities to
act in the M&A market. In the course of the last year, we have
increased and focused our sourcing activities to high quality
companies which fit well to the Boreo family. This work has
contributed positively to our capital allocation opportunities. Our
objective is to continue to acquire great entrepreneurial companies
regardless of the cycle and at the same time maintain the group’s
solid financial position” says Kari Nerg CEO of Boreo.
Vantaa, 3 July 2023
Boreo PlcKari NergCEO
Distribution:NASDAQ Helsinki LtdPrincipal
mediawww.boreo.com
Further information:
Kari NergCEOtel +358 44 341 8514
Aku RumpunenCFOtel +358 40 556 3546
Boreo in brief:
Boreo is a company listed on Nasdaq Helsinki
that creates value by owning, acquiring and developing small and
medium sized companies in Northern Europe. Boreo's business
operations are organized into three business areas: Electronics,
Technical Trade and Heavy Machines.
Boreo’s main objective is to create shareholder
value in the long-term. It aims to achieve this with an
acquisition-driven strategy, creating optimal conditions for its
businesses to increase sales and improve profitability, and by
being a best-in-class home for its companies and personnel.
The Group's net sales in 2022 were EUR 160
million and it employs over 300 people in seven countries. The
company’s headquarter is in Vantaa.
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