Auroora Group Plc, Press Release, October 28, 2026 at 12:00 p.m. EET
AUROORA GROUP PLC ACQUIRES COATING SOURCE OY, AN IMPORTER OF ROOFING PAINTS AND COATINGS
Auroora Group Plc has agreed to acquire a majority stake in Coating Source Oy, an importer of professional roofing paints and coatings. Based in Jyväskylä, Finland, the company adds a new, growing product area to Auroora's Industrial Products and Services segment. Coating Source's founder and entrepreneur, Timo Bygdén, will remain a shareholder and Managing Director and will continue to develop the company together with the existing team and Auroora.
Coating Source specializes in roofing paints, coatings, cleaning products and ancillary products, which it imports from European manufacturers and sells directly to contractors throughout Finland. The company is known in the industry for strong product availability, fast deliveries and expert product support, and serves hundreds of contractors. Founded in 2006, the company is based in Jyväskylä, and its business has grown strongly in recent years. Coating Source generated approximately EUR 6 million in revenue in its most recent financial year and has a solid level of profitability.
A growing market with the entrepreneur remaining a shareholder
"Finland's building stock is aging, and we see growth opportunities in the market for roof maintenance and coatings. Coating Source has built an efficient and profitable operating model that enables it to serve contractors throughout the country. We are pleased that Timo will continue as an owner alongside us. Shared ownership maintains an entrepreneurial approach within the company, while Auroora brings the resources and expertise to support its next phase of growth," says Sami Savolainen, Business Director at Auroora.
Greater resources to serve customers and supplier partners
"The company has grown rapidly, and we wanted a partner with whom we could continue that growth in a controlled and sustainable manner. Auroora's model, in which the entrepreneur can remain an owner and the company retains its own identity, immediately felt like the right fit for us," says Timo Bygdén.
"With Auroora's support, we will have access to significantly greater financial and operational resources. For our customers, this will mean even better product availability and service, while for our supplier partners, it will make us an even stronger partner in the Finnish market," Bygdén adds.
Completion of the transaction is subject to customary closing conditions and is expected to take place in November 2026.
For further information:
Sami Savolainen, Business Director, Auroora Group Plc, +358 41 5492 223
Timo Bygdén, Managing Director, Coating Source Oy, +358 50 9174 408
Auroora Group
Auroora Group Plc is a Finnish serial acquirer and industrial owner that builds long-term, profitable growth through acquisitions and operational development. Auroora acts as a permanent owner and develops its Group companies as part of a decentralized and entrepreneurial group structure.
Auroora operates in three segments: Electrification and Automation, Industrial Products and Services, and Clean Water and Environmental Technology. The Group executes a repeatable acquisition strategy in selected markets and allocates capital to growth that supports sustainable value creation.
The Group comprises more than 20 SMEs employing over 850 people. In 2025, Auroora's net sales amounted to EUR 205.2 million and adjusted EBITA to EUR 13.5 million. Auroora operates in Finland, and its companies conduct international business, with subsidiaries in Finland, Sweden, and Poland.
Auroora Group Plc's shares are listed on the official list of Nasdaq Helsinki Ltd.
www.auroora.com
Coating Source Oy
Coating Source Oy, founded in 2006, is an importer and wholesaler of roofing paints, coatings and cleaning products. The company serves roofing contractors throughout Finland and provides product support and training in addition to its product offering. Coating Source generated approximately EUR 6 million in revenue in its most recent financial year.
www.coating-source.com
