{"id":379220,"date":"2020-03-05T15:08:31","date_gmt":"2020-03-05T13:08:31","guid":{"rendered":"https:\/\/www.delete.fi\/2020\/03\/05\/delete-group-has-completed-the-divestment-of-delete-heavy-demolition-ab\/"},"modified":"2020-07-08T09:10:15","modified_gmt":"2020-07-08T06:10:15","slug":"delete-group-has-completed-the-divestment-of-delete-heavy-demolition-ab","status":"publish","type":"post","link":"https:\/\/www.delete.fi\/en\/2020\/03\/05\/delete-group-has-completed-the-divestment-of-delete-heavy-demolition-ab\/","title":{"rendered":"Delete Group has completed the divestment of Delete Heavy Demolition AB"},"content":{"rendered":"

Delete Group (\u201cDelete<\/strong>\u201c) has completed the divestment of Delete Heavy Demolition AB, a group company operating in the group\u2019s Demolition Services business area in Sweden. The transaction was completed by way of Delete Sweden AB selling all shares in Delete Heavy Demolition AB to Lotus Maskin & Transport AB. In 2019, the turnover of Heavy Demolition business in Sweden was EUR 10.3 million and EBIT was EUR -1.6 million before asset impairment. At year end 2019, the net assets of Heavy Demolition AB were valued at zero for Delete Group.<\/p>\n

As the Heavy Demolition business in Sweden has been underperforming since 2017, the divestment will allow Delete to focus on the long-term development of the stable environmental services businesses with Industrial Cleaning Services as the backbone.<\/p>\n

Delete is an environmental full-service provider in the Nordics with three business areas: Industrial Cleaning, Demolition Services and Recycling Services. As a result of Delete\u2019s strategic assessment initiated in 2018, Delete has investigated the potential sale of one or several of its business areas or sub-segments thereof, other than the Industrial Cleaning business area (together, the \u201cDivestments<\/strong>\u201c).<\/p>\n

On 27 November 2019, Delete successfully completed a consent solicitation from the noteholders of its outstanding EUR 110,000,000 senior secured floating rate notes due 2021 (ISIN FI4000252119) (the \u201cNotes<\/strong>\u201c) to approve certain amendments to the terms and conditions of the Notes in order for Delete to be able to carry out one or more of the Divestments on the condition that the net proceeds received from such Divestments would be used towards early partial redemption of the Notes. Net proceeds from the Divestment of Delete Heavy Demolition AB after transaction costs does not leave funds for partial redemption of the Notes and therefore early partial redemption of the Notes will not be applicable in this connection.<\/p>\n

For more information:<\/strong><\/p>\n

Ville Mannola, CFO<\/p>\n

phone: +358 400 357 767<\/p>\n

email: ville.mannola@delete.fi<\/p>\n

DELETE GROUP IN BRIEF<\/strong><\/p>\n

Delete Group is a leading environmental full-service provider that offers specialist competences and specialized equipment through three business areas: Industrial Cleaning, Demolition Services and Recycling Services. Delete was formed in 2010 through the combination of Toivonen Yhti\u00f6t and Tehoc and was acquired by private equity investor Axcel in 2013. Since 2011, Delete has made 34 acquisitions within the Industrial Cleaning and Demolition Services business areas.<\/p>\n

The Group is headquartered in Helsinki and employs approx. 1,000 professionals at over 34 locations in Finland and Sweden.<\/p>\n

 <\/p>\n

Information about Lotus Maskin & Transport AB: <\/strong>https:\/\/www.lotusab.se\/<\/p>\n","protected":false},"excerpt":{"rendered":"

Delete Group (\u201cDelete\u201c) has completed the divestment of Delete Heavy Demolition AB, a group company operating in the group\u2019s Demolition…<\/p>\n","protected":false},"author":22,"featured_media":29270,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[2],"tags":[],"class_list":["post-379220","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-all"],"acf":[],"yoast_head":"\nDelete Group has completed the divestment of Delete Heavy Demolition AB - 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