As announced in a stock exchange release on 16 December 2020, Delete Finland Oy and Lotus Maskin & Transport AB have entered into an agreement, whereby Delete Finland Oy sells all the shares in Delete Demolition Oy, a subsidiary operating in the Demolition Services business area, to Lotus Maskin & Transport AB.
The transaction is in line with Delete Group’s strategy to reduce the complexity of the group, and allocate more resources and focus on the long-term development of the stable environmental service businesses with Industrial Cleaning Services as the backbone. In 2019, the turnover of the Demolition Services business in Finland was EUR 50.9 million and it employed approximately 150 professionals at the end of Q3/2020.
“We are delighted that we found a buyer who will support the future growth and development of the Demolition Services business. We believe that the Demolition Services business will benefit from the new owner with focus on further development and expansion opportunities,” says Tommi Kajasoja, CEO of Delete Group Oyj.
“We are excited to continue our journey with Lotus, and we are sure that the combination of two leading demolition companies will provide our customers with an even more complete service offering both in terms of variety of services as well as geographical reach. Together we will have unmatched references, highly skilled employees as well as resources to undertake the most demanding demolition projects,” says Timo Aarvala, CEO of Delete Demolition Oy.
John Segerlund, CEO of Lotus Maskin & Transport, considers that the transaction will be pivotal to its business in Finland: “We see the acquisition of Delete Demolition Oy as complementary and an excellent strategic fit to Lotus’ current business in Finland. We look forward to joining forces with the experienced and driven employees of Delete Demolition, and to continue to develop the business further with all our new colleagues.”
The transaction is estimated to be completed in January 2021 and it will not have any impact on the services provided by Delete Demolition Oy to its customers.
For more information:
Tommi Kajasoja, CEO of Delete Group Oyj
Interview requests via Helena Karioja (+358 40 662 7373)
Timo Aarvala, CEO of Delete Demolition Oy
Phone. +358 40 596 5973
Delete Group Oyj
Delete Group is one of the leading environmental service providers in the Nordics. After the Transaction, the group offers business-critical client services, which require specialist competences and specialized equipment through two business areas: Industrial Cleaning Services and Recycling Services.
The Group is headquartered in Helsinki and employs approx. 700 professionals at over 35 locations in Finland and Sweden.
Lotus Maskin & Transport AB
Lotus is a family-owned group with long-term ownership as its strategy. At present, the Lotus Group revenue is approximately EUR 75 million, employ approximately 300 people and is active in demolition, transport and landscaping. The Group is present in most parts of Sweden and has an existing establishment in Finland active in heavy demolition. After the acquisition of Delete Demolition OY, Lotus will be able to offer its customers in Finland the same wide range of demolition services as in Sweden. The Lotus Group includes Lotus Maskin & Transport AB, Rivners AB, Rivners Sanering AB, Rivners Håltagning AB, Rivab i Göteborg AB, AK Schakt & Entreprenad AB and Lodab Demolering AB. Following the acquisition of Delete Demolition OY, revenues are expected to amount to approximately EUR 120 million, employ approximately 450 people and thus become one of the Nordic region’s leading demolition contractors.