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Nordic Waterproofing

Nordic Waterproofing

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Nordic Waterproofing Holding AB: Nordic Waterproofing acquires 80% of E. Voutilainen Oy in Finland, a liquid floor coating specialist

13:00 / 20 May 2021 Nordic Waterproofing Press release

Nordic Waterproofing Group has acquired 80 percent of the Finnish company E. Voutilainen Oy ("Voutilainen"). The company is headquartered in Imatra and performs installation and maintenance of liquid floor coating in mainly Eastern Finland. Voutilainen has ca 15 employees and an annual turnover of ca EUR 1.9 m. The acquisition will, together with our SPT Painting Oy, strengthen our position in the Finnish market.

Voutilainen was established 1959 and is headquartered in Imatra, Finland. The company designs, manufactures, markets and applies a wide range of painting and coating works to industrial customers. Voutilainen has ca 15 employees and an annual turnover of ca EUR 1.9 m. This acquisition is part of Nordic Waterproofing's strategy of enhancing our product and service offering. Through the acquisition of Voutilainen we get a good complement to our existing SPT Painting Oy in terms of applications and geographical presence.

Nordic Waterproofing Holding AB's Finnish subsidiary Nordic Waterproofing Oy has today acquired 80 percent of the shares in E. Voutilainen Oy. The remaining 20 percent of the shares can be acquired in 2023. The acquisition is financed through Nordic Waterproofing's existing credit facilities. The acquisition is expected to have a minor positive effect on Nordic Waterproofing's earnings per share in 2021 within the segment Installation Services.

"Nordic Waterproofing's strategy is to grow both organically and through acquisitions. With the acquisition of Voutilainen we broaden our solution offering and increase our geographical footprint in Finland. We appreciate that Voutilainen's management continue as minority shareholders and we welcome our new colleagues in Finland to Nordic Waterproofing" says Martin Ellis, President and CEO of the Nordic Waterproofing Group.

The information was submitted, through the agency of the contact person below, for publication on 20 May 2021 at 13:00 CEST.

Nordic Waterproofing in brief

Nordic Waterproofing is one of the leading providers in the waterproofing market in northern Europe. The Company provides high-quality products and solutions for waterproofing in Sweden, Finland, Denmark, Norway, Belgium, the Netherlands, Poland, the United Kingdom and Germany. Nordic Waterproofing also provides installation services through wholly-owned subsidiaries In Finland, a part-owned subsidiary in Norway and through part-owned franchise companies in Denmark. The Company markets its products and solutions under several brands, all with an extensive heritage, most of which are among the most established and well-recognized brands in their respective markets, such as Mataki, Trebolit, Phønix Tag Materialer, Kerabit, Byggpartner, SealEco, Distri Pond, SPT-Painting, Seikat, Taasinge Elementer, RVT, Urban Green and Veg Tech. Nordic Waterproofing Holding AB is listed in the Mid Cap segment on Nasdaq Stockholm with the stock ticker NWG.

Additional information about Nordic Waterproofing is available at www.nordicwaterproofing.com

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