Wetteri Plc sold its work-life training companies in Finland to Professio Finland Oy
Wetteri Plc Press release 2 April 2024 at 16.30 EET
Automotive growth company Wetteri Plc announced on 14th February 2024 that it is selling its Finnish training business company Tieturi Oy and Management Institute of Finland MIF Oy to Professio Finland Oy, which focuses on working life training.
The acquisition has been implemented on 2nd April 2024. Purchase price of the acquisition consists of a purchase price of EUR 5.3 million and a price based on the net working capital calculation at the time of execution and the adjustments made to it, as well as the capital return made before implementation. The buyer will pay 40 percent of the purchase price in cash at the time of execution and 10 percent on 30th June 2024. For 50 percent of the purchase price, Wetteri grants an interest-bearing loan with a loan period of 5 years of which the first two years are instalment-free.
By selling Finnish education business companies, Wetteri is clarifying the group's structure in accordance with the company's strategy. The training business will continue as part of the Professio group, whose core competence is training services for working life.
Aarne Simula, CEO and President, Wetteri Plc:
"Wetteri's goal is to grow into the largest multi-brand car dealership in the domestic automotive industry by the end of 2025, and that is why the focus of our operations is on the car business. In addition to the passenger car business, we invest in the development of our heavy equipment business and our maintenance services. The clarified group structure supports focusing on our core goals."
Wetteri Plc's Swedish work-life training company Informator remains as part of Wetteri.
Additional information
Aarne Simula, CEO and President, Wetteri Plc
Tel. 0400 689 613, [email protected]
Wetteri Plc – An Entrepreneur-Driven Automotive Growth Company
Wetteri Plc is an entrepreneur-driven growth company in the automotive industry. In addition to the retail trade of passenger, utility and heavy-duty vehicles, the Company provides maintenance and damage repair services from passenger cars to heavy-duty vehicles. The Company has 49 offices in its home country, headquartered in Oulu. The company employs around 1000 people, of whom nearly 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/