Nordic Waterproofing Group has acquired 75 percent of the Finnish company Rakennusliike Ripatti Oy ("Ripatti"). The company is headquartered in Nurmijärvi north of Helsinki and is a specialist in metallic façade construction, metal profiling and machining and pre-made eaves system with integrated fall protection under the brand RipRap. Ripatti has 30 employees and an annual turnover of EUR 7 m. The acquisition will, together with our Installation Services businesses, broaden our offering of roofing services in the Finnish market.
Ripatti was established 1978 and is headquartered in Nurmijärvi, Finland. The company is active in prefabricated steel eave structures with integrated safety rail systems for flat roofs branded RipRap and façade installations, mainly in the southern part of Finland. Ripatti has 30 employees and an annual turnover of EUR 7 m. This acquisition is part of Nordic Waterproofing’s strategy of enhancing our product and service offering. Through the acquisition of Ripatti we get an excellent complement to our existing Installation Service’s entities in terms of a broader offering.
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 2021 within the segment Installation Services.
"Ripatti has had good growth for several years and this is a natural step to increase the speed of our development," says Kimmo Ripatti, CEO of Ripatti. "We are pleased to now have a strong owner with a long-term focus and good understanding of our business and we see a good potential for continued growth" Kimmo continues.
"Nordic Waterproofing's strategy is to grow both organically and through acquisitions. With the acquisition of Ripatti we broaden our solution offering of roofing services in Finland. We appreciate that Ripatti’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.