BOREO PLC Press release 1 October 2026 at 11:30 EEST
Boreo acquires TEXpro Oy, a manufacturer of bellows expansion joints and industrial insulation products
Boreo Plc has on 1 October 2026 signed an agreement to acquire the entire share capital of TEXpro Oy ("TEXpro") from Cortese Oy (the "Transaction"). The Transaction was completed on the same day.
TEXpro designs and manufactures sewn technical textile products such as insulation cushions, fabric bellows expansion joints and filters. TEXpro serves mainly Finnish process industry companies and equipment manufacturers. TEXpro offers industrial customers a comprehensive range of bellows expansion joints and industrial insulation products based on in-house design and manufacturing.
TEXpro employs nine people in Rauma, Finland. Key people at TEXpro will continue to work in the company after the completion of the Transaction.
In the twelve months from September 2025 to August 2026, TEXpro's net sales were EUR 1.7 million and its adjusted operating profit EUR 0.4 million. The enterprise value of the TEXpro acquisition is EUR 1.6 million, part of which will be paid as an earn-out in 2027 and 2028.
Boreo funded the purchase price with its existing cash. TEXpro will be consolidated into Boreo's group figures as of 1 October 2026, and the business will be reported under Boreo's Technical Trade business area.
"TEXpro is a profitable and established operator in demanding industrial applications where product performance and reliable delivery are critical. The company fits well with our target company profile and strengthens our Technical Trade business area with capabilities built on in-house design and manufacturing, while broadening our offering to industrial customers. We are also pleased that the company's key people will continue with the business after the completion of the Transaction. We warmly welcome the employees of TEXpro to Boreo," says Joonas Korkiakoski, VP, Technical Trade, Boreo.
Vantaa, 1 October 2026
Boreo Plc
Tuomas Kahri
CEO
For further information
Tuomas Kahri, CEO, tel. +358 50 435 1944
Joonas Korkiakoski, VP, Technical Trade, tel. +358 40 182 8660
Distribution:
NASDAQ Helsinki Ltd
Principal media
www.boreo.com
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 the long-term. Boreo's business operations are organized into two business areas: Electronics and Technical Trade.
Boreo's primary objective is sustainable long-term profit generation. This is achieved with a business model that is based on the acquisition and ownership of great entrepreneurial companies with the ability to generate sustainable long-term earnings growth and strong cash flows. The profits generated by the portfolio of companies are re-invested back to operations or to acquisitions with attractive expected returns on capital. The decentralized operating structure promoting a culture of ownership and release of entrepreneurial energy is a core pillar of the company's business concept and sustainable earnings growth is ensured through the support and coaching of companies and the personnel.
The Group's net sales in 2025 were EUR 153 million and it employs over 300 people in seven countries. The company's headquarter is in Vantaa.
