Arvo is acting as a co-investor and making a EUR 1 million equity investment in the bus company Wiimax in connection with Wiimax’s acquisition of the entire business of Eskelisen Lapin Linjat. An interesting move; I haven’t really looked into the bus sector much before. In Southern Finland, Onnibus’s market share seems very large.
Wiimax Oy, which is celebrating its 90th anniversary this year, is Northern Ostrobothnia’s leading bus transport group, with the operating management as its main owner. Following the acquisition, the group will have over 180 buses of various sizes, around 180 employees, and operations covering almost half of Finland. As a result of the acquisition, the company’s total revenue will be approximately EUR 20 million.