Sievi Capital increases its holding in KH-Koneet Group

Sievi Capital Plc

Inside information 1 November 2021 at 8:20 EET

Sievi Capital increases its holding in KH-Koneet Group

Sievi Capital Plc increased its holding in KH-Koneet Group Oy (hereinafter referred to as “KH-Koneet Group”) in a transaction signed and completed on 1 November 2021. Following the transaction, Sievi Capital’s holding in KH-Koneet Group increases from approximately 66.4% to approximately 90.5%. The sellers were four minority shareholders of KH-Koneet Group, who all will continue as shareholders also after the transaction is completed.

The price paid for the shares is approximately EUR 8.5 million. The price was paid in full in cash. Sievi Capital funded the transactions using its cash and cash equivalents.

At the same time, Sievi Capital and all of the minority shareholders of KH-Koneet Group agreed on a +minority shareholders during 2024–2025.

KH-Koneet Group is one of the leading construction and earth-moving machinery suppliers in the Nordic countries. The company offers a comprehensive range of machinery, equipment and services for the needs of earthworks, property maintenance and material handling. The most well-known brands represented by KH-Koneet Group are Kramer, Yanmar, Kobelco and Wacker Neuson. KH-Koneet Group’s net sales for 2020 according to the Finnish Accounting Standards (FAS) amounted to EUR 120.5 million, EBITDA to EUR 6.4 million, operating profit with amortisation of intangible assets from acquisitions (EBITA) to EUR 5.4 million and net profit for the period to EUR 2.5 million. KH-Koneet Group’s equity was EUR 28.1 million on 31 December 2020.

“KH-Koneet Group is a strong company at a good development phase. As the majority shareholder of the company, we have followed it for about four years and seen closely the company’s transformation from a domestic market company into one of the leading construction and earth-moving machinery suppliers in the Nordic countries. We are convinced of the company’s growth opportunities and its ability to continue successful value creation. Once the minority shareholders offered us an opportunity to increase our holding in the company, we wanted to seize the opportunity. Following the transaction, Sievi Capital is even more committed to supporting the company in its next development phases,” says Jussi Majamaa, CEO, Sievi Capital.

The investment in KH-Koneet Group will continue to be reported as part of Sievi Capital’s private equity investments.

SIEVI CAPITAL PLC

Jussi Majamaa

CEO

FURTHER INFORMATION:

CEO Jussi Majamaa, tel. 7



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Sievi Capital is a partner for Finnish entrepreneurs. We support the growth, performance and value creation of small and medium-sized companies and concurrently build national competitiveness. We believe that we succeed together as co-entrepreneurs. Sievi Capital’s share is listed on Nasdaq Helsinki.