Delete Finland Oy, a group company of the Delete Group (“Delete“), has entered into an agreement regarding the divestment of Delete Demolition Oy, a subsidiary operating in the Demolition Services business area (the “Transaction“). The Transaction will be carried out by selling all the shares in Delete Demolition Oy to Lotus Maskin & Transport AB. The net proceeds to Delete resulting from the Transaction are expected to be approximately EUR 5 million after the deduction of transaction costs and certain adjustments. In 2019, the turnover of the Demolition Services business in Finland was EUR 50.9 million.
The Transaction is estimated to be completed in January 2021. The completion of the Transaction is not conditional upon approval of the competition authorities.
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 not longer engage in the demolition business.
Delete is one of the leading environmental service providers in the Nordics, the operations of which are divided into three business areas before completion of the Transaction: Industrial Cleaning, 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 Industrial Cleaning 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: Industrial 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.