Relais acquires spare parts and equipment distributor Adita

Translation: Original comment published in Finnish on 3/29/2023 at 6:19 am.

Adita is a distributor of spare parts and equipment for cars and marine use in the greater Helsinki region. In 2022 its net sales were EUR 5.6 million and thus the acquisition is relatively small in the scale of Relais. The purchase price of the acquisition was not published.

The arrangement is based on the retirement of the main owner

Adita is a long-term partner of Relais and, to our understanding has acted as a reseller of Relais’ Group companies in the Helsinki region. Thus, as the owner of Adita is approaching retirement, Relais wants to ensure that the sales channel is preserved in the short term with the acquisition. In the long term, it has potential for sales synergies, but we assume that the main motive for the arrangement is to ensure the continuity of operations.

Since Adita has to a certain extent sold Relais’ Group companies’ products, the impact of the acquisition on Relais' net sales is smaller than the figures of independent Adita. Adita’s profitability has been low in the last four financial years (2018-2021 EBIT % -2.4 to 3.0%), so the impact at earnings level is marginal in Relais’ size class.