Supplement to the inside information: Aspo's subsidiaryTelko expands in Western Europe via a strategic acquisition in specialty products

Aspo Plc
Inside information
March 8, 2024 at 15:35

Supplement to the inside information: Aspo's subsidiary Telko expands in Western Europe via a strategic acquisition in specialty products

Aspo Plc supplements the insider information published on March 8, 2024 at 12:44 regarding Telko’s acquisition. The original version did not include the following information:

• Purchase price total of EUR 12.6 million paid in cash
• Full-year consolidated net sales of the purchased businesses in 2023: EUR 18 million
• Full-year consolidated net sales of the purchased businesses in 2022: EUR 18 million
• Full-year consolidated adjusted EBIT of the purchased businesses in 2023: EUR 2.2 million
• Full-year consolidated adjusted EBIT of the purchased businesses in 2022: EUR 2.1 million
  
  

The full text with the supplementary information in its entirety is available below.

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Aspo's subsidiary Telko expands its lubricants business to Western Europe through acquisition in France, Belgium, Luxembourg, and Netherlands. The acquisition strengthens Telko’s presence in the European lubricants market, making Telko one of the largest industrial lubricants distributors in Europe.

By acquiring the Western European industrial lubricants distribution businesses from Petrus S.A, consisting of shares in Optimol Tribotechnik SA, Optimol Netherlands BV, Optimol France SAS and Greenfluid SAS, Telko opens new markets and enables a platform for further growth in the area. The acquired businesses are leading distributors of premium industrial specialty and high-performance lubricants, metalworking fluids and other general industrial lubricants in France and Benelux.

"We are excited to take a significant step in our accelerated acquisition-driven growth strategy. The transaction strengthens the weight of the lubricants business in Telko's business portfolio and opens new markets for us in France and Benelux, creating a platform for further growth in Western Europe," says Mikko Pasanen, Managing Director of Telko.

Net sales of Telko's lubricants business stood at EUR 50.5 million in 2023. The purchase price of the purchased businesses was EUR 12.6 million in total, paid in cash. The enterprise value of the purchased businesses is EUR 13.7 million. The purchased companies have in total annual combined net sales of EUR 18 million with a run-rate EBIT of EUR 2.2 million. Full year consolidated net sales of the purchased businesses in 2023 was EUR 18 million (2022: 18). Full year consolidated adjusted EBIT of the purchased businesses in 2023 was EUR 2.2 million (2022: 2.1)

"This acquisition is a key milestone in Telko’s compounder strategy, focusing on high value-added products and growth in Western Europe. Aspo’s ambition for Telko is to build a leading European player in distribution of specialty products" says Rolf Jansson, CEO of Aspo Group.

Telko aims to accelerate its organic growth through acquisitions to achieve its strategic goals in all three business areas and it has a solid pipeline of potential acquisition candidates. Telko remains confident of being able to further increase the M&A pace. Telko will also seek to strengthen its market share in existing markets through organic growth.

Aspo Plc

Rolf Jansson
CEO
Further information, please contact:
Rolf Jansson, CEO, Aspo Plc, tel. +358 400 600 264, rolf.jansson@aspo.com
Mikko Pasanen, Managing Director, Telko, tel. +358 40 743 6665, mikko.pasanen@telko.com
Distribution:
Nasdaq Helsinki
Key Media
www.aspo.com

Aspo creates value by owning and developing business operations sustainably and in the long term. Our companies aim to be market leaders in their sectors. They are responsible for their own operations, customer relationships and the development of these aiming to be forerunners in sustainability. Aspo supports its businesses profitability and growth with the right capabilities. Aspo Group has businesses in 13 different countries, and it employs a total of approximately 700 professionals.