Evli acted as Lead Manager in the EUR 30 million IPO of Relais Group. The IPO was completed successfully and trading in the company’s shares on Nasdaq First North Growth Market Finland began on 17 October 2019.
The valuation of all the company’s shares, based on the subscription price of the institutional and the public offering, was approximately EUR 120 million immediately following the IPO.
The IPO was structured as a share issue, whereby the company received gross proceeds of ca. EUR 20 million, and a share sale, whereby certain existing shareholders sold shares valued at ca. EUR 10 million. The IPO was oversubscribed, and Relais Group received approximately 2,000 new shareholders.
Relais Group is an importer and technical wholesaler that actively develops its vehicle electrical equipment and spare parts business operations in the Nordic and Baltic countries. Relais creates added value for its customers by offering vehicle electrical equipment, spare parts and specialist services throughout the life cycle of vehicles in a reliable, efficient and timely manner. As a strongly growth-oriented company, Relais aims to be an industry forerunner in the vehicle life cycle enhancement business.
The reported net sales of Relais Group amounted to EUR 72.5 million in 2018 and, illustrating the impact of Relais' acquisition of ABR and Huzells in May 2019, the pro forma net sales of Relais Group amounted to EUR 119 million in 2018. The company employs more than 260 people in five countries.
More information on Relais Group can be found on the company’s website www.relais.fi/en.
For more information, please contact:
Olli Kangasniemi, Evli Bank Plc, Corporate Finance, +358 40 579 6210
Björn Danker, Evli Bank Plc, Corporate Finance, +46 73 022 4482
Sebastian Seppänen, Evli Bank Plc, Corporate Finance, +358 50 544 0645