Information on the target
Boreo Plc has successfully acquired TEXpro Oy, a specialized manufacturer of bellows expansion joints and industrial insulation products, as of October 1, 2026. The acquisition, finalized on the same day, involves the purchase of the entire share capital of TEXpro from Cortese Oy. TEXpro is renowned for its design and manufacturing of sewn technical textile products, including insulation cushions, fabric bellows expansion joints, and filters, primarily serving the Finnish process industry and equipment manufacturers.
With a workforce of nine employees based in Rauma, Finland, TEXpro has demonstrated a commitment to quality and reliability in demanding industrial applications. In the fiscal year from September 2025 to August 2026, TEXpro reported net sales of EUR 1.7 million and an adjusted operating profit of EUR 0.4 million. The enterprise value of the acquisition stands at EUR 1.6 million, with a portion of the payment structured as an earn-out to be fulfilled in 2027 and 2028.
Industry overview in the target’s specific country
The Textiles & Leather Goods (NEC) industry in Finland has shown resilience and adaptability in recent years, driven by innovation and a focus on sustainability. Finnish companies in this sector are increasingly leveraging advanced technologies and sustainable practices to meet the evolving demands of both domestic and international markets. The emphasis on high-quality materials and craftsmanship has positioned Finnish textile manufacturers favorably, particularly in niche markets where performance and durability are paramount.
Moreover, the Finnish textiles industry benefits from a strong emphasis on research and development, with many companies investing in new materials and production techniques. This focus not only enhances product offerings but also aligns with global trends towards eco-friendly and sustainable manufacturing processes. As a result, Finnish textile firms are well-equipped to compete in the global marketplace, particularly in sectors requiring specialized technical textiles.
The demand for industrial textiles, such as those produced by TEXpro, is bolstered by the growth of the Finnish process industry, which relies heavily on high-performance materials for insulation and expansion joints. This sector's expansion is driven by increasing industrial activity and a push for energy efficiency, creating a favorable environment for companies like TEXpro that provide essential components for industrial applications.
In summary, the Textiles & Leather Goods (NEC) industry in Finland is characterized by innovation, sustainability, and a strong focus on quality, making it a promising lands…