W5 Solutions opens a Finnish subsidiary and finalizes the first acquisition in Finland for accelerated expansion
The fast-growing Swedish high technology company W5 Solutions, listed on Nasdaq First North, announces today the incorporation of their Finnish subsidiary W5 FINLAND OY. The company will operate in Finland towards government agencies and the civilian market. The first corporate activity of W5 FINLAND OY is an acquisition of skeet trap systems owned and operated by the family firm Nastakiekko OY. W5 Solutions subsidiary MR Targets will be responsible for marketing and sales of the systems to the civilian market.
The first corporate activity of W5FINLAND OY is the acquisition of skeet trap assets owned and operated by the family firm Nastakiekko Oy. The deal comprising of tangible, intangible, and organizational assets and rights, including personnel and contractual relationships, will now be owned by W5 Solutions to further grow their product range within the civilian Live-Fire training business area. One of the Europe’s largest manufacturer of moving target range MR targets, part of W5 Solutions will be responsible for marketing and sales of skeet traps with a projected revenue of €400,000 per annum. Transaction date 21st December 2022.
The selling family representatives Sirpa and Jari from Nastakiekko Oy: “We are delighted with this agreement knowing that the product will continue to be produced in Finland. MR Targets has been an important reseller for our products for many years and this transition will go seamlessly.”
Michael Åleberg, CEO of MR Targets, agrees: “We know the product and the Finnish market very well. By adding these world-class products to our portfolio, we can better serve our customers in the civilian Live-Fire business segment. The Nasta skeet traps are globally seen as the best in their field as they are used during the Olympic games. We are proud to become this product’s official business owners.”
“Establishing W5 in Finland opens many new opportunities and strengthens our growth journey of further internationalization. This acquisition outside of Sweden is the first step towards the target of our global acquisition agenda," says Daniel Hopstadius, CEO of W5 Solutions.
