Wetteri Plc
Inside information / Stock Exchange Release
9 April 2026 at 5:30 p.m.
Inside information: Wetteri acquires the maintenance service business of Sports Car Center and will launch used car and maintenance services in Helsinki and carries out a directed share issue
Wetteri has today, 9 April 2026, signed an agreement to acquire the service business of Sports Car Center Airport Helsinki from Oy Sports Car Center Ab in a business transaction. The acquisition includes maintenance and repair services for the following brands: Volvo, Mercedes-Benz, Land Rover, Renault, Dacia and Polestar. In addition, the parties have agreed that Wetteri will lease the car sales premises from Sports Car Center Airport Helsinki.
Wetteri will start its used-car operations on the premises in accordance with its own concept, by transferring inventory from its existing dealerships. The car sales business and used-car inventory of the acquired unit are not included in the transaction.
The debt-free purchase price is approximately EUR 2.1 million, of which EUR 1.8 million will be paid in cash and the remainder in Wetteri shares. The transaction will transfer inventories and fixed assets and the employee liabilities of the service business to the buyer. The revenue of Sports Car Center's service business in 2025 was approximately EUR 9.6 million, its operating profit was EUR 0.2 million and EBITDA was EUR 0.3 million. The company employs 48 people, who will transfer to Wetteri as existing employees as part of the transaction.
Directed share issue
Part of the purchase price (EUR 300,000) will be paid as share consideration through a directed share issue. In connection with the signing of the transaction, the Board of Directors of Wetteri Plc has, based on the authorisation granted by the Annual General Meeting on 22 May 2024, resolved on a directed share issue in which a total of 1,811,594 new shares will be issued to the seller, Oy Sports Car Center Ab. The subscription price per share is EUR 0.1656, i.e. approximately EUR 300,000 in total. The subscription price is based on the volume-weighted average price (VWAP EUR 0.184) of Wetteri Plc's share over 30 trading days preceding the signing of the transaction, less a discount of 10 percent.
After the share issue, the total number of shares in the company will be 161,784,156. The new shares to be issued represent approximately 1.12 percent of all shares and votes in the company after the share issue. There is a weighty financial reason for the directed share issue, as it relates to the execution of a business acquisition that is significant for the company's business operations and strategy. The share consideration reduces the cash payment of the transaction and strengthens the seller's commitment to the success of the acquisition through the share lock-up restrictions. The shares are subject to a lock-up restriction, under which 50 percent of the shares will be released from the restriction six (6) months and the remaining 50 percent twelve (12) months after the completion of the transaction.
Seller purchase price financing and convertible bond
The seller will finance part of the purchase price by granting Wetteri Plc a convertible bond of EUR 1,250,000, on which the Board of Directors will resolve in connection with the completion (closing) of the transaction. The principal of the convertible bond will be set off against the purchase price. The loan is intended to be repaid in cash through monthly instalments, with a maturity date of 31 December 2026. The loan carries a market-based interest rate. The convertible bond includes the seller's conditional right to convert overdue receivables into new shares of the company in the event Wetteri fails to pay an instalment when due. The conversion price is EUR 0.1656 per share, and the maximum number of new shares that may be issued under the convertible bond is 8,614,458. Wetteri will announce the issuance of the convertible bond separately in connection with the completion of the transaction.
The arrangement as part of Wetteri's updated strategy
The arrangement is part of Wetteri's "Ohittamaton" strategy, published in November 2025, which aims to, among other goals, seek profitable growth from its brand business, double the sales of used cars and expand the company's network of locations in the Helsinki metropolitan area.
"The announced transaction is a major step in the implementation of our strategy updated in November 2025. The business premises, located in a busy marketplace, offer us excellent conditions for growing our business. Wetteri already has a used-car dealership in Petikko, Vantaa, which opened in 2024. This transaction will enable us to expand our local offering of used cars and serve our customers in the Helsinki metropolitan area more comprehensively by adding maintenance services to our service portfolio. It is truly great to be able to expand the service business with brands that are already familiar to us", says Wetteri's CEO Pietu Parikka.
"I would like to thank our maintenance service personnel, customers and stakeholders for the good and long-term cooperation. Wetteri provides an excellent home for Sports Car Center's maintenance service, and the services will continue under the ownership of a strong player in the automotive sector. As a result of the transaction, our cooperation with Wetteri will continue both through operational activities and as a strategic partnership in our role as a shareholder of Wetteri," says Markus Freund, CEO of Sports Car Center.
The arrangement is expected to be completed in April-May 2026. Following the business transfer, Wetteri will commence maintenance service and used car sales businesses at the current Sports Car Center Airport Helsinki location, while Oy Sports Car Center Ab will continue its used car business at a new location.
The transaction will not affect the guidance for 2026 issued by Wetteri on 26 November 2025.
WETTERI PLC
Pietu Parikka
CEO
Further information:
CEO Pietu Parikka
tel. +358 50 344 2886
pietu.parikka@wetteri.fi
Wetteri Communications
tel. +358 50 336 9785
viestinta@wetteri.fi
Wetteri Plc - A car dealership from the north, across Finland
Wetteri Plc is a full-service car dealership with more than 60 years of history in the Finnish car market. Its business consists of three segments: passenger cars, maintenance services and heavy equipment. The company has grown from a local car dealership in Oulu into a national operator with 19 locations in Finland. Wetteri employs approximately 800 automotive professionals. Our goal is to deliver unrivalled car trade services and to be an excellent partner for our customers throughout the entire car driving cycle. We are a key player in the Finnish car market on the journey towards zero-emission driving. More information: sijoittajat.wetteri.fi/en/.
Distribution:
Nasdaq Helsinki
Key media
www.sijoittajat.wetteri.fi/en/
