Lindström to take over Virtaco´s Personal Protection Equipment Business

Helsinki, 3 August 2009 – Lindström and Virtaco have agreed on an extensive business transfer, in which Virtaco’s entire personal protection equipment (PPE) business, including all staff, facilities and the brand, will be transferred to the textile services company Lindström.

The business transfer, scheduled to take place on 1 August 2009, will strengthen Lindström’s position in the domestic PPE market. In addition to traditional corporate clients, Lindström will also strengthen its position in wholesale, offering hardware and construction materials to local retailers.

Lindström has created a comprehensive PPE solution for its customers’ occupational safety matters. Lindström is already offering a wide range of PPE, from footwear to gloves, fall protection, head protection and respirators.

The transaction includes Virtaco’s specialised PPE workforce of 14 employees. In addition, Virtaco’s facilities in Turku and Kouvola, as well as the Virtaco brand will be transferred. The turnover for the transferred business amounts to approx €5m. The company, headquartered in South-West Finland, is transferring its PPE business in its entirety.

“We are very happy for all the know-how and resources this acquisition gives us. Virtaco is an established player in the Finnish PPE market, and this acquisition will strengthen Lindström’s unique service concept covering the whole country, whilst creating added value to the clients of both Virtaco and Lindström”, said the CEO of Lindström, Juha Laurio, in a recent press release. “Safety will always remain a responsibility at the board level. In our opinion, the only tolerable amount of accidents is zero”, Laurio continues.


Virtaco
Virtaco is one of the leading suppliers of fire safety and personal protection equipment in Finland. The company’s turnover is approx. €9m with a total workforce of 36 employees. PPE accounts for approx. 65% of the company’s turnover with fire safety products representing the remaining 35% of sales.


Lindström
Lindström is a global business-to-business partner that strengthens the corporate image of its customers by means of safety and cleanliness. Lindström has operations in 19 countries in Europe and Asia with about 2,500 in staff and a turnover of around €250m.

Contact

Hans-Christoph Stadel
MCF Corporate Finance GmbH
Am Sandtorkai 30
20457 Hamburg

Tel: 040 / 398 03 0
Fax: 040 / 398 03 101