On April 1, 2021, Boreo Plc signed an agreement according to which it will purchase the entire share capital of Etelä-Suomen Kuriiripalvelu Ltd and Teitteam Ltd (the “Companies”) from the Managing Director and owner of the Companies, Mika Erkkilä, and the minority shareholder of Teitteam Oy. After the transaction, Mika Erkkilä will continue as CEO of the Companies.
“The acquisition strengthens the logistics expertise of the Group, enables the development of our operations in line with the operational efficiency strategy and provides an opportunity to complement the service offering of our other businesses. It is a pleasure to welcome the companies' personnel to our group and I look forward to developing the business together with the personnel, ”says Kari Nerg, CEO of Boreo Plc.
ESKP is a transportation company established in 2010 that operates in Finland and the Baltic countries and specializes in scheduled distribution and trunk transport. The companies employ 25 people and their operations are located in near Helsinki airport, Tuusula. The companies' combined turnover in 2020 was estimated at approximately EUR 3.9 million and EBITDA at approximately EUR 1.2 million.