Boreo’s subsidiary Muottikolmio acquires Lamox Oy

2023-03-03 09:00:00

BOREO PLC                        Investor news                       3 March 2023 at 10:00 EET

Boreo’s subsidiary Muottikolmio acquires Lamox Oy

Boreo’s subsidiary Muottikolmio Oy has on March 3, 2023, signed and closed a share and purchase agreement to acquire entire share capital of Lamox Oy, from Malum Oy.

The add-on acquisition supports Muottikolmio’s growth ambitions, enables wider product offering and improves the company’s position within the renovation construction market. Lamox is Muottikolmio’s long-term supplier of patented Termotuote products.

Founded in 2013, Lamox is a manufacturer of patented Termotuote products which are used in hidden socle repairs. During its years in business, Termotuote has gained a strong position among building companies and constructors. Lamox’s operations are located in Alajärvi, Finland. In FY 2022, Lamox had revenues of c. EUR 0,6 million and an EBITDA of c. EUR 0,1 million.

Lamox will be reported under Boreo’s Technical Trade Business Area.

Vantaa, 3 March 2023

Boreo Plc
Kari Nerg

NASDAQ Helsinki Ltd
Principal media

Further information:

Kari Nerg
tel +358 44 341 8514

Aku Rumpunen
tel +358 40 556 3546

Lamox Oy – Key financials1

  2022 2021 2020
Revenue, EURm 0,6 0,7 0,7
EBITDA, EURm 0,1 0,2 0,2
EBITDA, % 19,5 28,9 23,9
Total assets, EURm 0,4 0,4 0,3
Equity, EURm 0,3 0,3 0,2
Net debt, EURm (0,2) (0,2) (0,2)

[1] Illustrative key financials are based on Finnish Accounting Standards (FAS), financial year ending 30.4.  

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 160.4 million and it employs over 300 people in seven countries. The company’s headquarter is in Vantaa.