Delete Finland Oy, a group company of the Delete Group (“Delete“), has completed the divestment of Delete Demolition Oy, a subsidiary operating in the Demolition Services business area (the “Transaction“), announced on 16 December 2020. The Transaction was completed by way of Delete Finland Oy selling all the shares in Delete Demolition Oy to Lotus Maskin & Transport AB for a purchase price of EUR 7,332,625. The net proceeds to Delete resulting from the Transaction are approximately EUR 4.6 million after the deduction of transaction costs and certain adjustments.
The Transaction follows the divestments of Delete Special Demolition AB and Delete Heavy Demolition AB completed in Sweden in the beginning of the year 2020 and will allow Delete to focus on the long-term development of its stable environmental services businesses. After the completion of the Transaction, Delete does no longer engage in the demolition business.
Delete is one of the leading environmental service providers in the Nordics, the operations of which were divided into three business areas before completion of the Transaction: Cleaning Services, Demolition Services and Recycling Services. As a result of Delete’s strategic assessment initiated in 2018, Delete has investigated the potential sale of one or several of its business areas or sub-segments thereof, other than the Cleaning Services business area.
For more information:
Ville Mannola, CFO
phone: +358 400 357 767
DELETE GROUP IN BRIEF
Delete Group is one of the leading environmental service providers in the Nordics. After the Transaction, the group offers business-critical client services, which require specialist competences and specialized equipment through two business areas: Cleaning Services and Recycling Services.
The Group is headquartered in Helsinki and employs approximately 700 professionals at over 35 locations in Finland and Sweden after the Transaction.