Boreo acquires health technology company Delfin Technologies
June 08 2023 - 2:00AM
Boreo acquires health technology company Delfin Technologies
BOREO PLC INVESTOR
NEWS 8 June 2023 at 09:00 EET
Boreo acquires health technology company Delfin
Technologies
Boreo Plc has on June 8, 2023 signed a share
purchase agreement to acquire the entire share capital of Delfin
Technologies Oy (“Delfin Technologies”, “Delfin” or “the Company”),
from Tapani Lahtinen, the Company’s CEO Jouni Nuutinen and a group
of private shareholders (“Sellers”). The Company will continue
operating after the transaction as part of Boreo’s Electronics
Business Area, led by Jouni Nuutinen.
“We are delighted to have been provided the
opportunity to acquire Delfin Technologies and to partner with the
management in the Company’s growth journey. Delfin Technologies is
a company led by great people and has a track record of
consistently generating high margins and strong returns on capital.
Through its attractive positioning in the medical- and cosmetics
device markets, Delfin has a sustainable long-term organic growth
potential and offers us attractive re-investment opportunities
going forward. The acquisition also paves the way for new
acquisition opportunities in the medical device- and broader
healthcare sector”, says Boreo CEO Kari Nerg.
Founded in 1998, Delfin Technologies is a health
technology company that develops, produces and markets
scientifically validated and specialized, hand-held skin and edema
measurement instruments. Besides clinical use, Delfin’s products
are used in medical and dermatological research, as well as in
R&D, safety and performance validation of self-care and
cosmetics products. The products for clinical applications have
been approved for clinical use in the US and in EU. The company is
serving its customers through distributors in more than 40
countries in selected geographies, main markets being the US, China
and Europe.
Delfin has 9 employees with operations located
in Kuopio, Finland. In FY 2022, the Company had revenues of c. EUR
2.5 million and a reported EBIT of c. EUR 1.1 million.
The purchase price will be paid in cash. The
payment is scheduled in two installments, approximately two thirds
at closing and one third in one year from the closing of the
transaction. Boreo will fund the payment of the purchase price with
its existing financing facilities.
The closing of the transaction is expected to
take place on July 1, 2023. Delfin Technologies will be reported
under Boreo’s Electronics Business Area.
Vantaa, 8 June 2023
Boreo PlcKari NergCEO
Distribution:NASDAQ Helsinki LtdPrincipal mediawww.boreo.com
Further information:
Kari NergCEOtel +358 44 341 8514
Aku RumpunenCFOtel +358 40 556 3546
Delfin Technologies Oy – key financials1
|
2022 |
2021 |
2020 |
Revenue,
EURm |
2.5 |
2.1 |
1.3 |
EBIT, EURm |
1.3 |
1.1 |
0.6 |
EBIT, % |
50.3 |
51.9 |
46.9 |
Total assets,
EURm |
2.8 |
2.2 |
1.7 |
Equity, EURm |
2.6 |
2.0 |
1.6 |
Net debt,
EURm |
(0.9) |
(0.4) |
(1.1) |
[1]Key financials are based on Finnish Accounting Standards
(FAS), financial year ending December 31.
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 2022 were EUR 160
million and it employs over 300 people in seven countries. The
company’s headquarter is in Vantaa.
Boreo Oyj (LSE:0MPF)
Historical Stock Chart
From Oct 2024 to Nov 2024
Boreo Oyj (LSE:0MPF)
Historical Stock Chart
From Nov 2023 to Nov 2024