Copyright © Inderes 2011 - present. All rights reserved.
Press release

Nordic Waterproofing acquires 70% of VKP Holding Oy in Finland

Nordic Waterproofing Holding

Nordic Waterproofing Group has signed an agreement to acquire 70 percent of the Finnish company VKP Holding Oy ("VKP"). The VKP Group provides roofing and waterproofing services and is headquartered in Kajaani in northeast Finland. VKP Group has 75 employees and an annual turnover of EUR 9 m. The acquisition will, together with our existing Installation Services businesses, expand our geographical coverage of roofing services in the Finnish market.

VKP is the parent company of the group and has the fully owned subsidiaries Vesikattopalvelu Kajaani Oy, Vesikattopalvelu Kuusamo Oy and Vesikattopalvelu Nurmes Oy. The companies carry out different kinds of roofing and waterproofing services and is specialized in all types of roof renovation and maintenance activities. This acquisition is part of Nordic Waterproofing’s strategy of enhancing our product and service offering.

Closing of the transaction is expected to take place on 1 July 2022. Nordic Waterproofing has an option to acquire remaining 30 percent of the shares in two tranches, the first in 2024 and the second in 2026. The acquisition is financed through Nordic Waterproofing's existing credit facilities. The acquisition is expected to have a minor positive effect on Nordic Waterproofing's earnings per share in 2022 within the segment Installation Services.

"VKP has had a good development for several years and this is a natural step to increase the speed of our development," says Petri Kemppainen, previous main owner of VKP Holding Oy.
“VKP is a natural acquisition for us in this geographical area where we have a low market share. We are pleased to now strengthen our position within Installation Services in this region." says Esa Mäki, Head of NW Finland.

"Nordic Waterproofing's strategy is to grow both organically and through acquisitions. With the acquisition of VKP we broaden coverage of offering roofing services in Finland. We appreciate that VKP’s management continue as minority shareholders and we welcome our new colleagues in Finland to Nordic Waterproofing" says Martin Ellis, President and CEO of the Nordic Waterproofing Group.

For further information, please contact:

Palle Schrewelius, CFO and investor relations
Telephone: +46 707 82 79 58
E-mail: pos@nordicwaterproofing.com

Nordic Waterproofing in brief

Nordic Waterproofing is one of the leading providers in the waterproofing market in northern Europe. The Company provides high-quality products and solutions for waterproofing in Sweden, Finland, Denmark, Norway, Belgium, the Netherlands, Poland, the United Kingdom and Germany. Nordic Waterproofing also provides installation services through wholly-owned subsidiaries In Finland, a part-owned subsidiary in Norway and through part-owned companies in Denmark. The Company markets its products and solutions under several brands, all with an extensive heritage, most of which are among the most established and well-recognized brands in their respective markets, such as Mataki, Trebolit, Phønix Tag Materialer, Kerabit, Byggpartner, SealEco, Distri Pond, Gauris, Seikat, SPT-Painting, Taasinge Elementer, RVT, Urban Green and Veg Tech. Nordic Waterproofing Holding AB is listed in the Mid Cap segment on Nasdaq Stockholm with the stock ticker NWG.

Additional information about Nordic Waterproofing is available at www.nordicwaterproofing.com

VKP Holding Oy in brief

The VKP Group provides roofing and waterproofing services and is headquartered in Kajaani in northeast Finland. VKP Holding Oy, is the parent company of the group and has fully owned subsidiaries Vesikattopalvelu Kuusamo Oy, Vesikattopalvelu Kajaani Oy and Vesikattopalvelu Nurmes Oy. The companies carry out different kinds of roofing and waterproofing services and is specialized in all types of roof renovation and maintenance activities. VKP has 75 employees and an annual turnover of EUR 9 m.
 
Additional information about VKP is available at Palvelevaa kattourakointia - Vesikattopalvelu

Attachments

Nordic Waterproofing acquires 70% of VKP Holding Oy in Finland

Inderes’ Disclaimer can be found here. Detailed information about each share actively monitored by Inderes is available on the company-specific pages on Inderes’ website. © Inderes Oyj. All rights reserved.