Wetteri Plc
Stock Exchange Release / Inside information
7 July, 2025 at 9:30 a.m. EET
Inside information: Wetteri has signed an agreement on the sale of the heavy equipment maintenance and spare parts business in Kajaani and Joensuu to Raskone Oy - the transaction is subject to the approval of the competition authority (KKV)
Wetteri's subsidiary, Wetteri Auto Oy, and Raskone Oy, which provides heavy vehicle maintenance, repair, and spare parts services, have today, 7 July 2025, signed an agreement for the sale of Wetteri's heavy equipment maintenance and spare parts business in Kajaani and Joensuu to Raskone Oy. The workshops provide authorised repair and maintenance services for Scania, Mercedes-Benz, MAN, Sisu and Mitsubishi Fuso.
The transaction is subject to the approval of the Finnish Competition and Consumer Authority (KKV). The transaction will be completed after approval, estimated during the third quarter of 2025.
The purchase price is approximately EUR 13.8 million, including inventory valued at approximately EUR 0.8 million and fixed assets valued at approximately EUR 0.3 million. The purchase price also takes into account the employee liabilities transferred to the buyer in the transaction, estimated at approximately EUR 0.3 million.The purchase price will be paid at the time of execution of the transaction. EUR 2.0 million of the purchase price will be paid into a separate Escrow account. The part paid into the Escrow account will be released to the seller or returned to the buyer in accordance with the terms and conditions specified in the agreement.
The revenue of the business subject to the sale was approximately EUR 10.3 million for the financial year that ended 31 December 2024. The EBITDA for the financial year 2024 was approximately EUR 2.3 million (unaudited, Finnish GAAP).
The business to be sold employs approximately 33 people, who will transfer to Raskone Oy as old employees.
"I see this as a very positive development for Wetteri's future. The transaction strengthens Wetteri's self-sufficiency and creates even better conditions for developing the company," says Wetteri's CEO Aarne Simula.
"The transaction is an excellent example of the effectiveness and scalability of Relais Group's operating model in acquisitions. We make carefully considered and targeted add-on acquisitions for our existing platforms, enabling us to provide an even broader and more efficient service offering to our customers. Raskone offers an excellent home for these top-tier workshops from the perspective of their professional personnel, customers, and other stakeholders alike", says Raskone's CEO Jan Popov.
The transaction has no impact on Wetteri's financial guidance for 2025. On 14 May 2025, Wetteri withdrew its financial guidance for 2025 due to increased market uncertainty. In May 2025, company announced that it had launched strategy update process. The issue of new guidelines will be reassessed after the strategy work is completed.
Wetteri's heavy equipment business will continue as usual at Suvanto Trucks, Lahden Rekkapaja and Iisalmi maintenance and spare parts operations.
WETTERI PLC
Aarne Simula
President & CEO
Further information:
Aarne Simula, CEO, Wetteri Plc
Tel. +358400 689 613, aarne.simula@wetteri.fi
Pietu Parikka, CFO & COO, Wetteri Plc
Tel. +35850 344 2886, pietu.parikka@wetteri.fi
Wetteri Plc - an entrepreneur-driven growth company in the automotive industry
Wetteri Plc is an entrepreneur-driven growth company in the automotive industry. In addition to the retail trade of passenger, commercial and heavy-duty vehicles, the company provides maintenance and damage repair services ranging from passenger cars to heavy-duty vehicles. The company has 35 offices in Finland, and its head office is located in Oulu. The company employs approximately 800 people, of whom approximately 76% work in maintenance and damage repair services. Wetteri is a promoter of the digitalisation of the automotive industry and an important player in the joint journey towards emission-free driving. More information: www.sijoittajat.wetteri.fi/en/.
Relais Group / Raskone
Relais Group is a leading consolidator and acquisition platform on the vehicle aftermarket in the Nordic and Baltic countries. We have a sector focus in vehicle life cycle enhancement and related services. We also serve as a growth platform for the companies we own.
We are a profitable company seeking strong growth. We carry out targeted acquisitions in line with our growth strategy and want to be an active player in the consolidation of the aftermarket in our area of operation. Our acquisitions are targeted at companies having a good strategic fit with our group companies.
Our net sales in 2024 were EUR 322.6 (2023: 284.3) million. During 2024, we completed a total of two acquisitions. We employ approximately 1,600 professionals in eight different countries. The Relais Group share is listed on the Main Market of Nasdaq Helsinki with the stock symbol RELAIS.
Distribution:
Nasdaq Helsinki
Major media
www.sijoittajat.wetteri.fi/en/
