Machinery, Part of the Yleiselektroniikka Group, Acquires Muottikolmio to strengthen its position in the construction industry in Finland
On September 2, 2020, Machinery, part of the Yleiselektroniikka Group, signed an agreement according to which it will purchase the entire share capital of Muottikolmio Oy from the company's competent management and investor group. Muottikolmio is a service company operating in the construction industry, whose turnover in 2019 was approximately EUR 5 million, and an operating profit of approximately EUR 1 million. Yleiselektroniikka will continue to implement its acquisition-driven strategy, and its Machinery business unit will strengthen its position as a partner to the Finnish construction industry.
“It is a pleasure to welcome Muottukolmio and its employees into our growing family. With the acquisition of Muottikolmio, we will strengthen Machinery's product and service range and support our existing busines serving the construction industry. With the advanced products of Muottikolmio, skilled personnel, and a strong service concept, the company has a strong position in the construction market. I believe that Muottikolmio is well-positioned to grow and develop as part of our Group,” says Kari Nerg, President and CEO of Yleiselektroniikka Group.
Muottikolmio is a Finnish import, sales, and service company founded in 1990 in the field of concrete and renovation construction. The company employs six people, and its operations are located in Vantaa. The brands represented by Muottikolmio include Isodrä, Malthus, Dywidag, Vandex, and Webac, among others, and its customer base consists of Finnish construction companies, dealers, and construction contractors. The company's turnover in 2019 was approximately EUR 5.0 million, with an operating profit of approximately EUR 1.0 million (FAS).
“We have acquired a new strong owner that will support the growth and development of the Muottikolmio in the future. It is easy to identify with the Yleiselektroniikka Group's value base, down-to-earth operating method, and business model, and we are happy to continue developing the company as part of the Group,” said Hannu Pyrhönen, CEO of Muottikolmio, and Mikko Aalto, Technical Director.
The purchase price (goodwill) is approximately EUR 4.0 million euros. The completion of the transaction is conditional on the normal terms of the acquisition and is expected to be completed at the turn of September-October 2020.
Espoo, September 2, 2020
For more information:
Managing Director Kari Nerg
+358 44 341 8514
Yleiselektroniikka Group in brief:
Yleiselektroniikka Group is a company listed on the Helsinki Stock Exchange, consisting of two business units; Yleiselektroniikka in the electronics industry and Machinery in the industrial and construction industries. The Group's pro forma net sales in 2019 were EUR 111.8 million, and it employs about 330 people - in Finland, Russia, and the Baltic countries. The company's head office is located in Espoo.
Founded in 1969, Yleiselektronikka is one of the oldest professional electronics sales and distribution companies in Northern Europe. The main products are electronic components as well as measuring and testing equipment. The customers are electronics manufacturers, maintenance, and research & development enterprises. Outside Finland, Yleiselektroniikka is known as YE International.
Machinery is a Finnish technical wholesaler founded in 1911, which offers tools and machines from market leaders, as well as solutions for industrial machines, generators, and construction machinery. In addition, Machinery offers maintenance and service of its contract partners' products as well as installed solutions.