INVITATION TO A PRESS CONFERENCE: Virala Acquisition Company and Purmo Group merge to form a publicly listed company aiming for global leadership in sustainable indoor climate comfort solutions

08 September 2021

Virala Acquisition Company VAC will host a webcast-conference on the merger today, September 8, 2021 at 11:00 EEST.

In the first part of the event, VAC’s Chairman of the Board of Directors Alexander Ehrnrooth, Vice Chairman Mammu Kaario and CEO Johannes Schulman will introduce the transaction and how VAC continues to operate. In addition, Purmo Group's majority owner Rettig Group's Chairman of the Board Tomas von Rettig will introduce the investment strategy of Rettig Group and the background of Purmo Group. The session will be followed by a Q&A session. The language of the presentation is Finnish.

In the second part of the event, Purmo Group’s CEO John Peter Leesi and CFO Erik Hedin will present Purmo Group as an investment and the Company's key figures. The session will be followed by a Q&A session. The language of the presentation is English.

The conference can be followed as a webcast-broadcast at:

No registration in advance is required. 

Further enquiries and interview requests or tel. +358 50 571 1887

About Purmo Group – Purmo Group is an internationally leading company in sustainable indoor climate comfort solutions. Purmo Group’s comprehensive product offering includes radiators, towel warmers, underfloor heating, convectors, valves and controls. The company’s 3,300 industry professionals operate through 34 locations in 19 countries, manufacturing and distributing top quality products and solutions to customers in more than 100 countries globally.

About Rettig Group – Rettig Group is a leading Finnish family-owned investment company that creates value for generations through active and responsible ownership. Rettig Group’s core investments are eQ, Purmo Group, SigmaRoc, and Terveystalo. Rettig Group is also increasingly active in financial investments, including private equity fund and co-investments.

About VAC – Virala Acquisition Company Plc (VAC) is a Finnish acquisition company, tailored to the Finnish capital markets. The goal of VAC is to identify and execute one or more acquisitions that aim to create significant value for both the shareholders and the target company, as well as complement the Finnish capital markets. VAC seeks one or more companies and/or businesses with an estimated enterprise value ranging from approximately EUR 50 to EUR 500 million. The founding shareholder of VAC is the industrial enterprise Virala which has committed to act as a long-term anchor owner and developer of the companies to be acquired.

About Virala – Virala Group is a long-established industrial owner. The group includes family-owned and co-controlled private and publicly traded companies, in which Virala acts as an active owner with significant shareholdings. In addition, Virala actively manages a global portfolio including private equity, venture capital and real estate investments. Virala is the leading investor in five listed companies in Finland and Sweden, which in aggregate generated EUR 4.6 billion in revenue and had more than 13,000 employees around the world in 2020. Virala Group’s average annual return on equity was 24.7 per cent during 2014–2020. The parent company of Virala Group, Virala Corporation, is owned by Alexander and Albert Ehrnrooth.

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