Creowave Oy sells shares in Creowave Filters Oy with a transaction signed on 18.6.2019 and completed on 27th of June 2019, DA Group buys all the shares of Creowave Filters Oy.
This deal is a continuation of our strategy change in 2013. At that point, we decided to focus 100% to the Oil & Gas sector within Creowave Oy. As a result, the Creowave Filters business was separated as a daughter-company within Creowave Group. We were very pleased to hear, that a Finnish, Privately owned technology Group focused on Defence sector, expressed their will to start to discuss the possibility to buy Creowave Filters. The new owner is a perfect match, there is clear synergies between the companies and hardly anything, where the companies are competing with each other. We have managed to get a strong foothold with our core customers for the products of Creowave Filters, and now is the our time and responsibility to step aside and let others to continue on building the successful story of Creowave Filters Oy, says Jyrki Koski, CEO of Creowave Oy
After this deal, we will invest even more than before to further develop the C-site Monitoring system and to continue on deliveries for international Oil & Gas Sector, Koski continues.”
See the press release (pdf). DA-Group press release Creowave Filters (ID 195693)