NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO ANY JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
According to a contract signed on 23 May 2018, environmental full-service provider Delete Group Oyj will acquire Karhupurku Oy that specialises in the dismantling of elevators. The acquisition is planned to take place on 31 May 2018. This strategic acquisition aims to strengthen Delete’s position as the leading provider of environmental services and largest demolition contractor in the Nordic countries.
Karhupurku Oy, established in 2015, has gained a strong foothold in the dismantling of elevators in southwestern Finland. Before its establishment, Karhupurku Oy operated as part of Ovitek Oy for almost 10 years.
Delete’s CEO Tommi Kajasoja
“This acquisition supports our strategic growth as a leading Nordic provider of environmental services and the largest demolition contractor. The acquisition introduces a new and strong business area with growth potential for Delete in our Demolition Services business area in connection with elevator dismantling. It also completes Delete’s demolition offering and gains synergy from the existing Delete’s Demolition and Recycling Services business areas. The acquisition provides a significant opportunity for Delete to expand into the dismantling of elevators nationally in Finland and also expand it in other Nordic countries in the future.”
As a result of over 30 successful acquisitions and organic growth in Finland and Sweden, Delete is currently the leading provider of environmental services and the largest demolition contractor. The future outlook of elevator dismantling is supported by the growth in construction, ageing property stock, ageing population and digitalisation.
Through the acquisition, seven new demolition professionals will join Delete’s team. The effect on Delete’s result of 2018 is minor. In 2017, Karhupurku’s net sales were EUR 0.6 million. The parties have agreed not to disclose the acquisition price.
DELETE GROUP OYJ
Ville Mannola, CFO
tel. +358 400 357 767
Nasdaq Helsinki Ltd