Panostaja to Sell Tilatukku Group Oy to the Acting Management


Panostaja Oyj               Stock Exchange Bulletin, Inside Information       April 9, 2020      at 12:00

Panostaja to Sell Tilatukku Group Oy to the Acting Management

Panostaja has signed an agreement on selling the majority of Tilatukku Group Oy’s share capital to the company’s acting management. Panostaja’s holding in Tilatukku Group Oy has been 60%. The trade involves Panostaja relinquishing its ownership in the company entirely. The company’s enterprise value in the arrangement is approximately MEUR 1.8, of which Panostaja’s share after the deduction of interest-bearing net liabilities is approximately MEUR 0.9. Once the deal has been completed, Panostaja Group will record a capital loss of approximately MEUR 0.5. Tilatukku Group will continue to operate as an independent company with Tomi Pirinen as its CEO.

“We have owned Tilatukku Group for eight years. During our ownership, the company has determinedly continued to develop its service concept and serve its customers as a quick and professional partner. The company’s strong cash flow has also enabled good dividend yield for its owners. Now the company has achieved a very strong position and is the clear market leader in its industry. As such, now is the right time to relinquish our ownership and spur the company on to the next development and growth stage under the direction of committed entrepreneurs. The divestment is in keeping with our strategy and supports our objective of actively developing our own portfolio. I would like to thank everyone at Tilatukku Group for our journey together and wish them success in their future endeavors,” says Panostaja’s CEO Tapio Tommila.

“Known throughout the industry for its high-quality operations, quick deliveries and extensive product range, Tilatukku is the culmination of our years-long careers as entrepreneurs thus far. Majority ownership is now being handed over from an investment company to entrepreneurs, allowing us to continue our development and work solely on our own terms. It has been great to get to grow Tilatukku Group following the corporate restructuring carried out in October 2019. The cooperation between Panostaja, our board and capable staff has been fast-paced, pleasant and constructive,” says Tilatukku Group Oy’s CEO Tomi Pirinen.

Once the deal has been completed, Tilatukku Group will be fully removed from Panostaja Group’s profit/loss from continuing operations for the review period and reference period. Without Tilatukku Group, Panostaja Group’s comparable net sales and EBIT from continuing business operations for the 2019 financial period stood at MEUR 182.9 and MEUR 3.8, respectively.

During the financial periods of November 1, 2018–October 31, 2019 and November 1, 2017–October 31, 2018, Tilatukku Group’s net sales and EBIT were as follows (IFRS):

(in thousands of euros)November 1, 2018–October 31, 2019November 1, 2017–October 31, 2018
Net sales7,2819,435

Tilatukku Group’s balances on October 31, 2019 and October 31, 2018 were as follows:

(in thousands of euros)October 31, 2019 October 31, 2018

Permanent assets 2,5071,671 
Stocks 641535 
Receivables and Liquid assets1,8811,832 
Equity 2,1321,777 

Panostaja Oyj

Tapio Tommila

More information:

Tapio Tommila, CEO, Panostaja Oyj, +358 (0)40 527 6311,
Tomi Pirinen, CEO, Tilatukku Group Oy, +358 (0)44 0123 402,

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 2019 financial year, the Group’s net sales totaled MEUR 190.

Tilatukku Group Oy (previously knowns as Selog Group), established in 2005, is a wholesaler of interior structure components and specialty supplier of ceiling materials to industry professionals, which has grown into a notable and well-known operator in its industry. The company operates in the Helsinki region and Tampere. In October 2019, the company merged with its competitor, Tilatukku Oy, by means of an exchange of shares. The company’s CEO is Tomi Pirinen. In the 2019 financial period, the company’s net sales and EBIT stood at MEUR 7.3 and MEUR -0.2, respectively.