Panostaja Oyj Stock Exchange Bulletin, changes in management October 30, 2019 9:00 am
Panostaja Oyj’s Segment Selog Group Oy to Merge with Tilatukku Oy and Appoint a New CEO
Panostaja’s segment Selog Group Oy signed an agreement with Tilatukku Oy to merge the companies. The merger will take the form of an exchange of shares, which involves Selog Group Oy purchasing Tilatukku Oy’s shares and the current owners of Tilatukku ending up with 40% of Selog Group Oy’s shares after the consolidation. Tilatukku Oy will continue as a subsidiary fully owned by Selog Group Oy. Going forward, Selog Group will operate under the name Tilatukku.
The CEO of Selog Group will be replaced in conjunction with the restructuring. Tomi Pirinen (vocational qualification in business and administration, born 1988) has been selected as the new CEO and will assume his duties immediately. Pirinen is the current CEO of Tilatukku Oy and one of the two founding members of the company. He has also previously managed a ceiling fitting business. The company’s previous CEO M.Sc. (Tech.) Reijo Siekkinen will be stepping down at the same time.
Tilatukku Oy is a wholesaler of interior structure components and operates in the Helsinki Metropolitan Area. The company’s net sales for July 11, 2018–September 30, 2019 stand at MEUR 4.0 and the company’s EBIT is slightly on the positive side.
Panostaja Oyj
Tapio Tommila
CEO
Further information:
CEO Tapio Tommila, +358 (0)40 527 6311
Panostaja is an investment company developing Finnish SMEs in the role of an active shareholder. The company aims to be the most sought-after partner for business owners selling their companies as well as for the best managers and investors. Together with its partners, Panostaja strives to increase shareholder value and create Finnish success stories. Panostaja has a majority holding in eight investment targets. Panostaja’s shares (PNA1V) are quoted on the Nasdaq Helsinki Stock Exchange. In the 2018 financial year, the Group’s net sales totaled MEUR 185.2.