Project Grand Bidco (UK) Limited improves offer prices and lowers the acceptance threshold of its tender offer; Purmo board maintains its recommendation

Funds managed by affiliates of Apollo (“Apollo”) and Rettig Ltd (“Rettig”) (“the Consortium”) announce an improved tender offer with improved offer prices for each share validly tendered and a lower acceptance threshold of the improved tender offer for all the issued and outstanding shares in Purmo Group Plc (“Purmo”).

“In its current setting, Purmo’s capacity to grow and transform has been restrained, and we see it as a unique opportunity to be able to partner with the highly experienced and professional team at Apollo to bring the required resources and ambition to accelerate Purmo’s growth and clean transition journey, benefitting both Purmo and its employees. We at Rettig firmly believe that the improved tender offer represents an attractive opportunity for both Purmo and all of its shareholders.” said Matts Rosenberg, CEO of Rettig.

Further information

https://purmogroup.tenderoffer.fi/en/

Matts Rosenberg, CEO, Rettig: Tel. +358 40 198 9978

Rettig is a family-owned investment company that creates value for generations. Our investment strategy focuses on both listed and private assets and sets out to generate attractive over-the-cycle returns while maintaining an appropriate risk level in the portfolio. A cornerstone in our investment strategy is the ambition to cooperate with professional and like-minded partners and co-investors. Rettig is controlled by the 9th generation of the von Rettig family.