Nordic Waterproofing Group has signed an agreement to acquire 70 percent of the Finnish company EG-Trading Oy ("EG-Trading"). EG-Trading is growing sedum and offers a wide variety of different landscaping products and is headquartered in Tammisaari in southern Finland. EG-Trading has 15 employees and an annual turnover of EUR 3 m. The acquisition will, together with our existing green infrastructure businesses, expand our geographical coverage of green infrastructure and landscaping solutions in the Nordic market.
EG-Trading offers a wide variety of different landscaping products, both their own sedum mats but also products from other suppliers to mainly the Finnish market. Customer base consists of main contractors, roofers and infra contractors in new build and from wide variety of property owners in renovation market.
Closing of the transaction is expected to take place on 1 October 2022. Nordic Waterproofing has an option to acquire remaining 30 percent of the shares in 2025. The acquisition is financed through Nordic Waterproofing's existing credit facilities. The acquisition is expected to have a very limited impact on Nordic Waterproofing's earnings per share in 2022 within the segment Products & Solutions.
"EG-Trading has had a good development for several years and this is a natural step to increase the speed of our development in the Finnish market," says Tanja Fri, CEO of EG-Trading.
“EG-Trading is a natural acquisition for us in this segment and we look forward to expand our offer of green solutions for our customers." says Esa Mäki, Head of NW Finland.
"Nordic Waterproofing's strategy is to grow both organically and through acquisitions. With the acquisition of EG-Trading we broaden our offering of sustainable solutions in Finland. We appreciate that EG-Trading’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.