Summa Defence (summas) M&A Announcement summary

Deal rationale and strategic fit

• Merger creates a strong Finnish group focused on defence, security of supply, and dual-use technology, shifting main business from marine logistics to defence and security technology.

• Supports Finnish technological self-sufficiency and security, with ambitions for international growth, especially in NATO countries.

• Marine Logistics business divested due to financing covenants and lack of synergy with project-based solar energy business.

Financial terms and conditions

• Meriaura Group acquires Summa Defence via share exchange, valuing Summa Defence at EUR 185 million and Meriaura Group at EUR 40.4 million.

• Shareholders of Summa Defence will own 88.1% of the new group; Meriaura Group shareholders will hold 11.9%.

• Marine Logistics business sold to Meriaura Invest Oy for EUR 14.4 million, financed by a vendor note and offset by a directed acquisition of own shares.

• Arrangement results in an imputed write-down of approximately EUR 16.4 million for Meriaura Group in 2024.

Synergies and expected cost savings

• Subsidiaries retain their identities but benefit from group synergies, enabling participation in larger projects and international commercialization.

• Group structure accelerates production and product launches, especially in defence and security technology.