Sanok Rubber Company Spólka Akcyjna completed the acquisition of Teknikum Group Ltd.
March 04, 2024
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Sanok Rubber Company Spólka Akcyjna (WSE:SNK) signed an agreement to acquire Teknikum Group Ltd. for an enterprise value of ?46.7 million on December 19, 2023. Teknikum's FY 2022/2023 revenue is at about ?69 million. The completion of the acquisition is expected in the coming months, marking a significant milestone for both companies as they aim to strengthen their positions in international markets. The completion of the transaction, conditional on regulatory approval, is expected to take place in the first half of 2024. Karlo Siirala from Asianajotoimisto Castrén & Snellman Oy acted as legal advisor to Sanok Rubber Company Spólka Akcyjna (WSE:SNK).Erkko Ruohoniemi, Sami Tuominen from Merilampi Oy acted as legal advisors to shareholders in the sale of Teknikum. Jonni Leporanta, Aleksi Nieminen, and Zenon Wawryszko and Jan-Erik Rae, Borbala Bodo and Torben Schlitt from Grant Thornton Frackowiak sp. z o.o. , Revico Grant Thornton Oy, Grant Thornton Hungary and Grant Thornton AG Wirtschaftsprüfungsgesellschaft provided financial due diligence, transaction advisory, and process coordination and tax due diligence for Sanok Rubber Company Spólka Akcyjna (WSE:SNK).
Sanok Rubber Company Spólka Akcyjna (WSE:SNK) completed the acquisition of Teknikum Group Ltd. on March 5, 2024. The transaction received the approval of Finland's ministry of economy and labour.
Sanok Rubber Company SA, known as Sanockie Zaklady Przemyslu Gumowego Stomil Sanok SA, is a Poland-based company focused on development, production and marketing of products made from rubber and rubber combined with metal and other materials. The Companyâs business is divided into four segments: Automotive, Construction, Rubber Compounds and Industry and Agriculture. The Company manufactures a range of products used in such fields as car body sealing systems, car suspension and exhaust systems, electrical, power transmission, fuel and cooling systems, agriculture, household appliances and pharmaceutical industry.. The Companyâs customers are: Fiat, General Motors, Ford Motor, Volvo Cars, Suzuki, Volkswagen Group, Volvo Trucks, Mack Truck and LDV, among others. The Company operates through Stomet Sp. z o.o., PST Stomil Sp. z o.o., Stomil Sanok Dystrybucja Sp. z o.o., PHU Stomil East Sp. z o.o., Stomil Sanok Wiatka satz, and Stomil Sanok Rus Sp. z o.o., among others.