Skarta Group seeks momentum for growth on the stock market17.05.21
Skarta Group Oy (former Suomen Maastorakentajat Oy), a builder of clean technology, and Privanet Group Plc, listed on the Nasdaq First North marketplace, have entered into a pre-contractual arrangement on 17 May 2021, whereby Skarta Group will transfer to the listed company listed on the Nasdaq First North marketplace.
Skarta Group Oy is a profitably growing international expert in clean technology that, among other things, builds solutions for clean energy production in the emerging markets. Skarta Group Oy operates in the construction of wind, solar and nuclear power as well as in the development of clean water technologies.
Skarta Group Oy has been operating since 1987 and is mainly active in Finland and Sweden. The Group employs over 150 people. The strong growth in the Group is illustrated by things such as this year’s confirmed order book, which has already exceeded EUR 60 million at the end of April 2021. The company expects the current financial year’s turnover to be EUR 70–80 million and the operating profit to be at least EUR 5 million.
As a result of the arrangement, Andament Group from Kalajoki will become the largest owner of Privanet Group Plc. Other owners include the group Aktiiviomistajat which is included in the plan through a significant share issue. The group is a consortium of experienced entrepreneurs. The company has approximately 2,000 shareholders.
As a result of the arrangement to be implemented, the name of Privanet Group Plc is to be changed to Skarta Group Plc, and the company’s industry is to correspond to that of Skarta Group.
“Skarta’s business is expanding significantly in all areas of the company, and we are involved in numerous clean technology projects. Strong ownership and belonging to a publicly listed group will in future enable more efficient acquisition of the financing needed for growth,” says Jukka Juola.
The planned arrangement will be implemented in the summer and is conditional on the due diligence inspections to be carried out on the parties. It will finally be approved by the General Meeting of Privanet Group Plc, the Board of Andament Group Oy and the company’s financiers.