29.06.2005

Dino Lift Oy buys out investors

Dino Lift Oy, the aerial lift producer, based in Loimaa, Finland, has purchased the 25 percent holding owned by Aboa Venture, the venture capital fund that helped finance Godenhielm’s purchase of the Dino lift business in 1997. This share buy back gives managing director, Lars-Petter Godenhielm 100 percent ownership of the business.

The company that became Dino Lift Oy was a small agricultural equipment producer which by chance had registered the Dino lift name for one of its products.
The name of the business was changed to Dino lift Oy and the focus moved towards trailer mounted aerial work platforms.
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A 26 metre Dino 260XT trailer lift

Dino lifts revenues were €15 million last year, producing around 450 units, with 110 employees. A large percentage of the company’s production is exported, largely to Germany, Sweden and Norway, although it sells in 40 countries. Dino is forecasting revenues of €22 to 23 million this year with unit volumes of 550 to 600.

“Significant growth has been budgeted for the current financial year and more orders than expected have been received during the spring and early summer” said Godenhielm

According to Godenhielm, the agreement is a natural resolution after eight years of joint ownership. The investment by Aboa Venture always envisaged a disposal of its holding within ten years or at a point when it could gain a solid capital gain..
Aboe Venture has around €32 million of funds invested and concentrates on financing small to medium sized Finnish companies.
’’The investment placed in Dino Lift has fulfilled all our expectations both financially and in terms of growth in business’’, says Investment Director Heikki Tuomaala from Aboa Venture

Last winter the Dino invested in an enlargement of the factory in order to increase production capacity. This year it strengthened its position in Sweden, by setting up a sales company in Stockholm. Dino Lift AB which opened its doors in March.

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