Stock exchange release, inside information
23.10.2026 at 7:50 a.m.
eQ Plc has today signed a share purchase agreement to acquire the entire share capital of Genesta Property Nordic AB, a company specialising in Nordic real estate asset management. The transaction is expected to strengthen eQ's international growth platform and expand its real estate asset management business into a Nordic-wide business. If completed, the transaction would provide eQ with an international institutional client base and network, local operations in Sweden, Norway and Denmark, and a Luxembourg-based fund management company authorised as an alternative investment fund manager (AIFM).
The maximum debt-free transaction value before purchase price adjustments is EUR 15.5 million, comprising a base purchase price of EUR 11.5 million and a conditional earn-out of EUR 4.0 million.
- Before purchase price adjustments, both the base purchase price and the earn-out will be paid 50% in cash and 50% in new shares in eQ Plc.
- Upon closing of the transaction, Genesta's current shareholders Caprock Ventures AB, Philip Björk Invest II AB, Pinetwig AB and Ted Söderlund Invest AB would become shareholders in eQ through the share consideration. The sellers have undertaken to comply with transfer restrictions applying to the shares. Genesta's partners David C. Neil, Philip Björk, Daniel Tallqvist and Ted Söderlund are committed to continuing the long-term development of the business as part of eQ.
A strategically significant step
If completed, the transaction will support the implementation of eQ's Strategy 2030 - Return to Strong Growth. Founded in 2003, Genesta is a Nordic real estate investment manager managing three real estate funds and approximately EUR 1 billion in assets. The company has 30 employees and offices in Stockholm, Helsinki, Oslo, Copenhagen and Luxembourg. The net sales of the company's asset management business in 2025 were approximately EUR 9.6 million (EUR 9.1 million in 2024), and operating profit was approximately EUR 2.7 million (EUR 2.5 million in 2024).
Genesta has more than 20 institutional investor clients, primarily European pension investors, as well as long-standing investor relationships and an extensive international investor network. Genesta's Nordic organisation, international investor base and Luxembourg fund platform are expected to complement eQ's existing strengths in private markets investing and support the development and international distribution of new products. eQ's strategic targets for 2030 remain unchanged.
"In line with eQ's strategy, we are pursuing growth through, among other things, international institutional client relationships, particularly in private equity and real estate investing, and by strengthening eQ's position as a leading real estate asset manager. The acquisition of Genesta is the first step in building an international private markets growth platform and expanding our real estate asset management business into a Nordic-wide operation. Genesta's institutional client relationships and networks, highly skilled personnel and Luxembourg fund platform support the implementation of eQ's strategy and its international expansion," says Jouko Pölönen, CEO of eQ Plc.
"eQ's strategy, culture and long-term approach make it a strong owner for Genesta. Together, we can strengthen our position in asset management and grow the business internationally. Joining forces with eQ will provide our clients with a significantly broader service offering and create development opportunities for our personnel as part of a larger organisation," says David C. Neil, CEO of Genesta.
Key terms of the transaction
The maximum debt-free transaction value before purchase price adjustments is EUR 15.5 million. The base purchase price is EUR 11.5 million, and the conditional earn-out is EUR 4.0 million.
Before purchase price adjustments, the base purchase price will be paid 50% in cash and 50% in new shares in eQ Plc. The base purchase price comprises a cash component of approximately EUR 5.75 million and 680 471 new shares in eQ Plc, with a subscription price of EUR 8.45 per share, to be paid as a contribution in kind at the closing. The subscription price is based on the 30-trading-day volume-weighted average price of the eQ Plc share before signing of the share purchase agreement. In accordance with the share purchase agreement, the cash consideration will be adjusted after closing on the basis of net debt and net working capital. The number of new shares is fixed and will not be subject to adjustment.
The earn-out is based on the achievement of agreed fundraising targets within two years following closing of the transaction and will be paid in full if its conditions are met. The earn-out will be paid 50% in cash and 50% in new shares in eQ Plc. The subscription price for each earn-out share will be based on the 30-trading-day volume-weighted average price of the eQ Plc share. This 30-trading-day period will be calculated backwards from the date on which the obligation to pay the earn-out is finally confirmed in accordance with the share purchase agreement, at which time the number of earn-out shares will also be determined.
The cash consideration and the cash component of any earn-out will be financed from eQ's cash reserves and, if necessary, with debt financing. Subject to fulfilment of the conditions precedent to closing of the transaction, the new shares will be issued in connection with closing. The issuance of the earn-out shares will be decided separately if the conditions for the earn-out are met.
Financial effects and timetable of the transaction
The transaction is not expected to affect eQ's outlook for 2026.
Closing of the transaction is subject to, among other things, the receipt of the necessary regulatory approvals and the fulfilment of certain customary conditions precedent. The transaction is expected to close at the latest during the first quarter of 2027.
Briefing for analysts, investors and the media
eQ will arrange a briefing on the transaction and the Q3 interim report for analysts, investors and the media. The briefing will be held on 23.10.2026 at 11.00 a.m. at eQ's premises at Aleksanterinkatu 19, 5th floor, Helsinki. The briefing may also be followed via webcast. Advance registration is required to participate in the webcast, and a link to the webcast will be sent to registered participants. Please register by email at linda.holm@eq.fi
Helsinki 23 October 2026
eQ Plc
Further information:
Jouko Pölönen, CEO, tel. +358 50 1282
Pertti Vanhanen, Director, International Business, tel. +44 792059394
Antti Lyytikäinen, CFO, tel. +358 40 709 2847
Media: Taina Kyllönen, Director, HR and Communications, tel. +358 40 582 2175
Distribution: Nasdaq Helsinki, www.eq.fi, key media
eQ is a Finnish group focusing on asset management and corporate finance operations. eQ Asset Management offers a broad range of asset management services to both institutional and private clients. The Group's assets under management total EUR 14.3 billion. Advium Corporate Finance, which is part of the Group, provides services related to corporate and real estate transactions and capital arrangements. The shares of the Group's parent company, eQ Plc, are listed on Nasdaq Helsinki. Further information about the Group is available at www.eq.fi.
IMPORTANT NOTICE
The information contained in this release does not constitute an offer document, prospectus, an offer to sell or a solicitation of an offer to acquire any securities referred to in this release in any jurisdiction.
Certain statements in this release are "forward-looking statements". Forward-looking statements include statements concerning the transaction and its effects on eQ, as well as eQ's plans, assumptions, estimates, objectives, targets, ambitions, strategies, future events, future revenues or performance, plans or intentions relating to acquisitions, eQ's competitive strengths and weaknesses, financing plans or objectives, future operations and development, its business strategy and anticipated trends in the political and legal environment of the industry in which it operates, and other information that is not historical information. In some cases, they may be identified using forward-looking terminology, including the terms "believes", "may", "intends", "might", "will" or "should", or, in each case, their negative forms or variations of comparable terminology.
The forward-looking statements in this release are based on assumptions. Forward-looking statements inherently involve risks, uncertainties and assumptions, both general and specific, and there is a risk that forecasts, projections, estimates, plans and other forward-looking statements will not be achieved. In light of these risks, uncertainties and assumptions, you are cautioned not to place undue reliance on such forward-looking statements. All forward-looking statements contained in this release are made in light of the information available as at the date of this release. eQ does not intend, and assumes no obligation, to update or revise any forward-looking statements contained in this release.
