Panostaja Oyj Stock Exchange Bulletin, November 6, 2012, 11:00 am
PANOSTAJA STRENGTHENS ITS FITTINGS BUSINESS AREA THROUGH A COMPANY ACQUISITION AND BY SEPARATING BUSINESSES
Panostaja Oyj’s subsidiary Suomen Helasto Oy has bought the entire shareholding of Oy Eurohela Trading Ltd, which provides furniture fittings wholesale services. In 2011, Eurohela Trading’s net sales totaled MEUR 3.8. As a result of the transaction, Panostaja strengthens its business area specializing in fittings wholesale with a diverse product range and comprehensive sales network. The price of the transaction will not be made public.
In the same connection, the business area will be reorganized so that the furniture fittings and construction fittings businesses will be separated into their own companies. Suomen Helasto Oy’s subsidiaries Oy Eurohela Trading Ltd and Suomen Helakeskus Oy merge to form Suomen Helakeskus Oy, focusing on the furniture fittings business. Suomen Helasto Oy’s new subsidiary Rakennushelasto Oy, which is established as part of the reorganization, will specialize in the construction fittings business. The aims of the separation are improved special expertise and product knowledge.
In 2011, the Fittings business area comprising the furniture fittings and construction fittings businesses had approximately MEUR 15 in combined net sales. It employed 44 people. Suomen Helakeskus Oy Managing Director Hannu Rantanen will continue as Managing Director of the company and also as a major shareholder. As part of the reorganization, Oy Eurohela Trading Ltd owner Heikki Savola will become Managing Director of and a shareholder in Rakennushelasto Oy. As a result of the reorganization, Panostaja Oyj’s shareholding in Suomen Helasto Oy is about 95%.
The acquisition has no impact on the result management given on October 29, 2012.
Panostaja Oyj
Juha Sarsama
CEO
Further information:
CEO Juha Sarsama 040 774 2099
Panostaja is an investment company developing Finnish SMEs in the role of an active majority shareholder. The company aims to be the most sought-after partner for business owners selling their companies as well as for the best managers and investors. Together with its partners, Panostaja increases the Group's shareholder value and creates Finnish success stories. The Panostaja Group employs approximately 1,200 people. Panostaja’s shares (PNA1V) are quoted on the NASDAQ OMX Helsinki Stock Exchange. In the 2011 financial year, the Group’s net sales totaled MEUR 163.2. www.panostaja.fi
Suomen Helakeskus Oy is a company specializing in the import and wholesale of fittings, established in 1971. The company has Finland's most extensive and diverse range of fittings. Its new state-of-the-art facilities completed in 2010 are located in Seinäjoki. In the 2011 financial year, the company had net sales of MEUR 11.4 and employs 32 staff. Suomen Helakeskus Oy is part of the Panostaja Group. www.helakeskus.fi
Oy Eurohela Trading Ltd was established in 1998, focusing on the import and wholesale of furniture fittings. The company has specialized in the wholesale of high-quality European products for the furniture industry. Oy Eurohela Trading Ltd’s head office is located in Seinäjoki and its sales network covers the whole of Finland. In 2011, the company had net sales of MEUR 3.8 and employs 12 staff. www.eurohela.com