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 Plc
Kari Nerg
CEO
Distribution:
NASDAQ Helsinki Ltd
Principal media
www.boreo.com
Further information:
Kari Nerg
CEO
tel +358 44 341 8514
Aku Rumpunen
CFO
tel +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.
