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08/06/2023 | Press release | Stock Market Release

Beijer Alma’s subsidiary Beijer Tech acquires Finn Lamex

Beijer Tech has today, June 8th 2023, acquired the majority of shares in Finn Lamex Safety Glass Oy, a leading manufacturer of complex laminated windscreens for commercial vehicles, motorhomes and industrial machines.

Finn Lamex engineers and manufactures laminated windscreens for primarily the aftermarket for buses. The company is highly regarded for its strong expertise, ability to tailor complex screens to meet customer requirements and commitment to deliver high quality products. Through its strong offering, the company has established a significant market share on the European aftermarket. Located in Laitila, Finland, Finn Lamex generates approximately EUR 14m in annual revenue with favourable profitability. The company has about 80 employees.
 
The acquisition is in line with Beijer Alma’s model for value-adding acquisitions and Beijer Tech’s strategy of acquiring profitable companies in attractive niches with good growth potential and high value add.
 
Beijer Tech’s President, Staffan Johansson, commented on the transaction: “Through its high quality and customer-centric strategy, Finn Lamex has built a strong position within its market niche. The company has long standing customer relations and is well positioned to benefit from the prevailing market trends. All in all, Finn Lamex’s profile is well aligned with our acquisition strategy. I am looking forward to work together with the minority owners to develop the company to the next level.”
 
Finn Lamex’s Managing Director, Tero Toivanen, also commented on the transaction: “I am happy to welcome Beijer Tech as a new long term majority owner of Finn Lamex. The company has taken significant steps in its development over the last few years, and we are now looking forward to continuing our journey. I would also like to thank our previous majority owners, Länsi-Suomen Pääomarahasto Oy and Kasvattajarahasto Ky governed by Aboa Venture Management Oy, for a good corporation since we bought the company together in 2016.”
 
In the transaction, Beijer Tech acquires 72.1 percent of the shares in Finn Lamex Safety Glass Oy with closing today. The current minority owners will remain as operating minority owners following the transaction. The acquisition is expected to have a marginally positive impact on Beijer Alma’s earnings per share.

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