Admicom Oyj’s subsidiary Admicom Finland Oy acquires Lakeus Tilitoimisto Oy’s operations

Unofficial translation of the press release on July 1, 2021. In case the document differs from the original, the Finnish version prevails.

Admicom Oyj’s subsidiary Admicom Finland Oy has on July 1, 2021 signed the contract to acquire Lakeus Tilitoimisto Oy’s operations. Transfer of the business will be executed on August 1, 2021. Execution of the acquisition is conditional to the decision of the general meeting of Lakeus Tilitoimisto Oy. When the contract was signed, majority of Lakeus Tilitoimisto’s shareholders gave an irreversible obligation to accept the acquisition.

Lakeus Tilitoimisto Oy, established in 2014, is an accounting firm from Seinäjoki. Their revenue in 2020 was EUR 0,635 million and EBITDA EUR 0,175 million. The company has eleven employees, who will be transferred to Admicom Finland Oy with the transfer of business.

The debt-free purchase price is altogether EUR 668 000, which will be paid during 2021 in two cash instalments by Admicom Finland Oy.

The acquired business will support the growth prospects of Admicom’s core business, will expand the Group’s office locations to new areas and will strengthen the resources of accounting services.

The acquisition does not have significant short-term impact on Admicom Group’s financial position or outlook.

The CEO of Admicom Finland Oy, Anna-Maija Ijäs:

”We have been successfully serving mutual customer companies with Lakeus Tilitoimisto for several years. This acquisition presents an excellent opportunity to combine our industry-specific knowledge and service knowledge. A significant part of Admicom’s customers purchase our comprehensive service, where alongside with Adminet ERP solution and consulting services we offer accounting services. Our service business has grown strongly in the past years, and with this acquisition we will ensure that there are experts available to serve our customers in the future too. Our aim is to develop the automatization of Adminet software even further with stronger resources in accounting services, and to enable serving our customers in a wider geographical area as well. I warmly welcome the customers and employees of Lakeus Tilitoimisto to Admicom.”

The CEO of Lakeus Tilitoimisto Oy, Suvi Varala:

“Admicom and Lakeus Tilitoimisto joining forces is a natural continuation for our long-lasting co-operation. Adminet is the forerunner of software, which we have been able to discover ourselves when operating as a partner accounting firm and using Adminet. Advanced automation frees our accountants’ time from routine tasks so we can even better support our customers with their businesses. Lakeus Tilitoimisto will continue to serve its customers as an independent business unit. However, joining Admicom’s organisation, which is bigger than ours, will help us develop our services and know-how even further.”

ADMICOM OYJ

Additional information:

Petri Aho
Interim CEO, CFO
Admicom Oyj
+358 44 724 1767
petri.aho@admicom.fi

Anna-Maija Ijäs
CEO
Admicom Finland Oy
+358 40 701 2530
anna-maija.ijas@admicom.fi

Admicom Oyj, established in 2004, is a Finnish forerunner and provider of cloud-based ERP solutions for construction, building services engineering and manufacturing companies and a comprehensive partner in software and accounting services. The Company’s cloud-based SaaS ERP solution Adminet helps small and medium-sized companies enhance their competitive advantage by automating manual processes of production site and office seamlessly all the way to accounting.

The cost calculation and the production management software developed by our daughter company Tocoman Oy have a long history and a stable position on the market. Combining the product strengths of Tocoman with the strengths of Adminet creates by far the most extensive cloud-based solution for the construction industry.

The Company employs about 175 professionals in Jyväskylä, Vantaa, Tampere, Oulu and Helsinki. Further information: www.admicom.fi/investors