Authority approval for Sievi Capital's acquisition of Logistikas

On October 29, 2020, Logistikas and Sievi Capital Plc announced that they had signed an agreement by which Sievi Capital will acquire a majority stake in Logistikas Ltd and Logistikas Hankinta Ltd. The approval of the competition authorities, which was a prerequisite for the completion of the acquisition, has been obtained and the transaction has entered into force today.

In the future, the companies will form a new group with unaudited pro forma net sales in the financial year ended 31 December 2019 of EUR 20.7 million and EBITDA of EUR 1.4 million.

- Completion of the transaction will enable the companies to start a new phase of growth. We look forward to starting work with the new board and company management. In addition to organic growth, we see opportunities on the part of the inorganic growth path, says Päivi Marttila, CEO of Sievi Capital.

The companies' current major shareholders will continue to be significant minority shareholders and in board and management positions. Toni Brigatti, CEO of Logistikas Oy, is enthusiastic about starting the cooperation.

- I am very pleased about Sievi Capital's results in the development of companies and confident about our growth plans' realization. The implemented arrangement and the support of Sievi Capital will enable us to make a bigger leap in the coming years.