Inside information: Summa Defence Plc sells IntLog Oy to its operating management
Summa Defence Plc Company announcement, inside information 18 September 2026 at 17:15 EEST
Summa Holding Oy, a wholly owned subsidiary of Summa Defence Plc, has today signed a share purchase agreement to sell the entire share capital of IntLog Oy to Jukka Pietilä, Emilia Koivisto, Mediset Oy and Kaarirakenne Group Oy (together, the "Buyers"). The transaction is a management buyout by IntLog's operating management. The transaction was completed in connection with the signing of the share purchase agreement.
The transaction is part of the strategic review announced by Summa Defence Plc on 15 May 2026. The arrangement simplifies the Group structure, reduces the future financing needs relating to IntLog and enables IntLog's business to continue under the ownership of its current management. Following completion, IntLog is no longer a part of the Summa Defence Group.
IntLog is a Finnish developer, manufacturer and supplier of relocatable and modular facilities. In 2025, IntLog's revenue was EUR 2.383 million (EUR 2.374 million in 2024) and operating profit was EUR -0.065 million (EUR 0.212 million in 2024). The company employed nine people during the 2025 financial year. The personnel will continue to be employed by IntLog following the transaction, and the share sale as such will not affect employment relationships.
"The arrangement supports continuity of IntLog's business and gives the company's current management the opportunity to develop the business independently. At the same time, the transaction reduces the Summa Defence Group's future financing needs and supports the simplification of the Group structure," says Robert Blumberg, CEO of Summa Defence Plc.
Purchase price and debt arrangements
The purchase price for the entire share capital of IntLog Oy is EUR 136,000. The Buyers paid the purchase price in full in connection with completion.
In connection with the transaction, IntLog Oy repaid the EUR 644,000 of debt owed to Summa Holding Oy in full. Taking into account the EUR 100,000 secured loan that remains outstanding in IntLog, the transaction implies an enterprise value of approximately EUR 880,000.
Termination of lock-up undertakings
In connection with completion, the existing lock-up undertakings relating to shares in Summa Defence Plc held by Jukka Pietilä, Emilia Koivisto, Mediset Oy and Kaarirakenne Group Oy terminated.
Financial impact
IntLog will be consolidated into the Summa Defence Group's figures up to the completion date. The transaction is expected to have a one-off, non-cash negative impact of approximately EUR 2.7 million on the Group's result, primarily due to the write-off of goodwill relating to IntLog.
The immediate positive cash flow impact of the transaction on the Summa Defence Group is approximately EUR 249,000.
The transaction is expected to reduce the Group's future working capital requirements and risks related to IntLog's business.
With respect to the other subsidiaries included in the strategic review, the assessment and evaluation of alternatives continue. The Company will announce any potential arrangements separately in accordance with applicable disclosure obligations.
SUMMA DEFENCE PLC
Board of Directors