Boreo company ESKP’s position as a leading provider of specialized logistics strengthened through the acquisition of Basti Oy’s operations and assets
BOREO PLC Investor news 15 December 2022 at 10:00 EET
Boreo company ESKP’s position as a leading provider of specialized logistics strengthened through the acquisition of Basti Oy’s operations and assets
Boreo’s subsidiary Etelä-Suomen Kuriiripalvelu Oy (“ESKP”) has on December 15, 2022 signed and completed an asset purchase agreement to acquire the operations and assets of Basti Oy (“Basti” or “the Company”), from its owner Sebastian Soldarev-Bogorodski (“Seller”). Basti’s operations will continue under its own brand after the transaction, as part of ESKP, led by Sebastian Soldarev-Bogorodski.
”As the Vesterbacka Transport acquisition completed in spring 2022, the acquisition of Basti is in line with the growth strategy of ESKP. The deal diversifies ESKP’s customer base and provides opportunities for future growth and improvement of cost competitiveness. We are delighted that with the support of Boreo, our companies have the ability to identify and execute acquisitions which strengthen the existing business operations. These types of acquisitions are central to our value creation model. A warm welcome to Sebastian and Basti as part of ESKP and Boreo”, says Boreo CEO Kari Nerg.
Founded in 1996, Basti is a logistics company specialized in direct express transportations, from customers to defined locations. Basti’s wide customer base consists mainly of industrial businesses in Finland. The Company has 2 employees, as well as a wide network of subcontractors and partners. Basti is located in Kärrby, Finland. In FY 2021, the Company had revenues of c. EUR 0,4 million and an EBITDA of c. EUR 0,1 million.
The transaction consideration comprises of a fixed purchase price payable at closing in cash. The Seller has committed to purchasing 1 000 shares of Boreo Plc from the public markets, within 6 months of the transaction. The Seller has committed not to sell or distribute the shares for 12 months from their acquisition.
Basti’s operations will be reported as part of ESKP under Boreo’s Other Operations Business Area.
Vantaa, 15 December 2022
Boreo Plc
Kari Nerg
CEO
Distribution:
NASDAQ Helsinki Ltd
Principal media
Further information:
Kari Nerg
CEO
tel 4
Aku Rumpunen
CFO
tel 6
Basti Oy – key financials1
| 2021 | 2020 | 2019 | |
| Revenue, EURm | 0.4 | 0.2 | 0.4 |
| EBITDA, EURm | 0.1 | 0.0 | 0.0 |
| EBITDA, % | 18.6 | 9.5 | 12.4 |
| Total assets, EURm | 0.2 | 0.2 | 0.2 |
| Equity, EURm | 0.1 | 0.1 | 0.1 |
| Net debt, EURm | (0.0) | 0.0 | 0.0 |
[1]Key financials are based on Finnish Accounting Standards (FAS), financial year ending 30.9.
Boreo in brief:
Boreo is a company listed on Nasdaq Helsinki that creates value by owning, acquiring and developing small and medium sized companies in Northern Europe. Boreo's business operations are organized into three business areas: Electronics, Technical Trade and Heavy Machines.
Boreo’s main objective is to create shareholder value in the long-term. It aims to achieve this with an acquisition-driven strategy, creating optimal conditions for its businesses to increase sales and improve profitability, and by being a best-in-class home for its companies and personnel.
The Group's net sales in 2021 were EUR 122 million and it employs some 300 people in seven countries. The company’s headquarter is in Vantaa.
