February 17th 2016
Seri-Deco Oy and Wideco’s shareholders have signed 15th of February 2016 acquisition agreement in which 100% ownership of Wideco is transferred to Seri-Deco. In connection with the deal, Wideco’s owner Juha Myllyniemi will be Seri-Deco’s shareholder. He will also continue working in the company as a Development Director. In the first phase companies operations will continue as usual in separate entities, but business operations will be merged during spring 2016. This acquisition will expand Seri-Deco’s product range, and company will further strengthen its position as a leading wholesaler of visual communication material and equipment in Finland and Baltics.
’The visual communication business is constantly evolving due to the technological innovations, new application areas and chancing consumer behavior. In order to serve customers better in the changing environment, we also need to develop our operations’, explains Jussi Heinämäki, Seri-Deco’s Managing Director.
’We want to be a leading wholesaler in the business, and we want increase our sales in both Finland and Baltics. We actively seek growth - both organic and through acquisitions. I firmly believe that this acquisition will further improve our competitiveness and we can deliver high value to our customers and suppliers very efficiently’, continues Heinämäki.
Product range and know-how are complements to each other
The merger between Seri-Deco and Wideco will create a company which has sector’s widest product range, very knowledgeable staff and capabilities for high class services and logistics. As the company grows, more resources can be allocated to the product range development, service development and development of new innovative business approaches. Furthermore merger enables deeper partnership with customers and it also allows the delivery of more comprehensive solutions.
‘Wideco’s and Seri-Deco’s product ranges fit together very well. After merger we can offer customers solutions ranging from large format printer to self-adhesive vinyl, CAD printing systems and foam boards’, says Juha Myllyniemi.
’We are very excited and committed to take advantage of all the possibilities which open up at the market after the deal. I am sure that many of our suppliers will benefit from the merger’, Heinämäki continues.
After this transaction the turnover of the Seri-Deco group will increase to 13,5 million euros and in total there will be 41 employees. Seri-Deco’s Managing Director Jussi Heinämäki will continue as a Managing Director in the new company. The companies will continue operations at their current premises in Tuusula.