Boreo Oyj (HLSE:BOREO) signed an agreement to acquire Floby Nya Bilverkstad AB from Hasse Eriksson and Magnus Thorild for SEK 48 million on July 2, 2021. A fixed sum of approximately SEK 33 million will be paid under the transaction and an additional earn-out consideration of up to SEK 15 million is payable in cash if certain financial targets are met in 2022-2024. Deal value is based on a debt-free purchase price of approximately SEK 40 million. Floby Nya Bilverkstad AB will continue to operate independently as part of Boreo. Floby Nya Bilverkstad AB reported net sales of about SEK 91 million for the year ended December 31, 2020. Hasse Eriksson and Magnus Thorild will continue to work for Floby Nya Bilverkstad AB. Floby Nya Bilverkstad AB employs 26 people.