Eagle Filters, a company specializing in air filtration technology, has recently acquired an industrial property in Kotka. The property was purchased for 0.3 million euros last year but was determined to have a fair value of 4.4 million euros by an external evaluator. The intense bidding process saw 107 offers and seven buyer candidates competing for the property, which is located in the former Hovinsaari factory area.
The CEO of Eagle Filters, Jarkko Joki-Tokola, explained that the property would be used for industrial purposes and that the company conducts industrial activities there. Despite the low purchase price, Eagle Filters saw it as a significant opportunity and decided to acquire it.
Eagle Filters Group, formerly known as Loudspring, is an investment company with a subsidiary focused on air filtration technology. The increase in the property’s value is substantial compared to the company’s market value on the stock exchange. Newsec Advisory Finland conducted an evaluation of the property’s value to ensure accuracy and transparency.
Joki-Tokola assured that decisions will be made carefully and with transparency regarding equity issues raised by the increase in valuation. Despite past losses, Eagle Filters has shown growth potential and plans to focus on achieving profitability in addition to growth this year.
Overall, Eagle Filters views its acquisition of an industrial property in Kotka as a significant opportunity that demonstrates its commitment to growth and strategic investments.
