United Bankers Plc
INSIDE INFORMATION 22 May 2026 at 22.00 EEST

Inside information: United Bankers Plc acquires Fondita Fund Management Company Ltd

United Bankers Plc ("United Bankers", the "Company") has today 22 May 2026 signed a share purchase agreement to acquire a majority (96.25%) of the issued and outstanding shares of Fondita Fund Management Company Ltd ("Fondita"). The purpose of the transaction is for United Bankers to acquire the entire share capital of Fondita. The final completion of the transaction is subject to, among other things, the approval of the Finnish Financial Supervisory Authority, the share issue resolution by United Bankers’ Board of Directors, and the fulfilment of certain customary conditions precedent.

United Bankers will pay the sellers a fixed purchase price of approximately EUR 11.6 million for the entire share capital. If the ownership at the closing of the transaction is below 100%, the fixed transaction price to be paid at the closing of the transaction will decrease proportionally. The purchase price is to be paid partly in newly issued shares in United Bankers through a directed share issue and partly in cash. Certain key personnel and their controlled entities who own in total 20.66% of Fondita's share capital will receive a fixed purchase price in shares and in cash. The other sellers' portions of the fixed purchase price will be paid in cash. The proportion to be paid in shares corresponds to approximately 10% and the proportion to be paid in cash approximately 90% of the total fixed purchase price.

In addition to the fixed purchase price, the sellers may earn an additional purchase price based on the positive development of the assets managed by Fondita's funds. The potential additional purchase price will if certain conditions are met be paid two years after the closing of the transaction, partly in shares and partly in cash, and will amount to a maximum total of EUR 3.0 million.

The acquisition advances United Bankers' growth strategy and brings new expertise to the fund portfolio

In recent years, United Bankers has successfully implemented its growth strategy, which also includes acquisitions. If completed, the acquisition of Fondita will advance the expansion of United Bankers' business and the growth opportunities for assets under management through new funds and a new customer base. After the transaction, all of Fondita's key and other personnel will continue to work for the United Bankers Group.

Fondita is an independent fund management company with a history of almost 30 years. In 2025, the company's revenue (income from operations) was EUR 6.4 million (EUR 8.2 million in 2024) and operating profit was EUR 2.5 million (EUR 3.9 million). Fondita has eight funds: small-cap funds Fondita European Micro Cap, Fondita Finland Micro Cap, Fondita Global Small Cap, Fondita Nordic Micro Cap, Fondita Nordic Small Cap and thematic funds Fondita Healthcare, Fondita Global Megatrends and Fondita Sustainable World. At the end of April 2026, the assets of the funds totalled approximately EUR 335 million. The portfolio management of the funds is based on active stock picking, long-term ownership and responsible investing.

"From a growth strategy perspective, the year has started actively, and we have once again been able to advance the expansion of our business also through M&A transactions. The acquisition of Fondita supports our strategic growth targets excellently. Fondita's funds bring new special expertise to our selection, with a particular focus on small caps and thematic funds. We are also united by a very similar set of values, built around customer focus, a long-term approach and a commitment to quality in everything we do. I warmly welcome the Fondita team," says John Ojanperä, CEO of United Bankers.

“In Fondita's operations, we have always wanted to focus on where we can genuinely create added value for our clients – careful stock selection, long-term investing, and personal service. United Bankers is a strong partner for us, which allows us to further develop this work. It is also very important to us that the entire Fondita team continues and remains committed to our shared future", comments Fondita's CEO Patrik Wickström.

"We are excited to begin our joint journey with United Bankers and look forward to continuing to deliver the personal, client-focused service that has been the cornerstone of our business for nearly 30 years. At the same time, this partnership enables us to significantly enhance our offering. Together, we will be able to provide a broader product palette across a wider range of asset classes along with comprehensive wealth management solutions," says Fondita's Deputy CEO, Client Relations Fredrik von Knorring.

“This is a significant and positive development step for both Fondita and our clients. Over the years, our portfolio management team has built strong expertise in small-cap and thematic investing, and developed an investment process that we are proud of. The merger with United Bankers gives us access to significantly broader distribution channels. At the same time, our portfolio managers can focus on their core expertise – identifying high-quality companies with long-term growth potential. It's great to start a new phase together”, adds Fondita's Head of Portfolio Management Marcus Björkstén.

United Bankers estimates that, if completed, the arrangement will have a positive impact on the Company’s revenue and adjusted operating profit already in 2026. According to United Bankers’ current guidance issued on 12 February 2026, the Company estimates its adjusted operating profit to be close or grow compared to 2025. The Company’s Board of Directors currently maintains the guidance unchanged.

Further information:

John Ojanperä, CEO, United Bankers Plc
Email: john.ojanpera@unitedbankers.fi
Phone: +358 40 842 3472, +358 9 25 380 356

Patrik Wickström, CEO, Fondita Fund Management Company Ltd
Email: patrik.wickstrom@fondita.fi
Phone: +358 40 738 2962, +358 9 66 89 89 15

Investor Relations: ir@unitedbankers.fi

United Bankers in brief:

United Bankers Plc is a Finnish expert on asset management and investment markets, established in 1986. United Bankers Group’s business segments include asset and wealth management and capital markets services. In asset and wealth management, the Group specialises in real asset investments. United Bankers Plc is majority-owned by its key personnel, and the Group employs 165 employees (FTE) and 26 tied agents (31 December 2025). In 2025, the United Bankers Group’s revenue totalled EUR 57.1 million, and its adjusted operating profit amounted to EUR 16.7 million. The Group’s assets under management amount to approximately EUR 5.2 billion (31 December 2025). United Bankers Plc’s shares are listed on Nasdaq Helsinki Ltd. The Group companies are subject to the Finnish Financial Supervisory Authority’s supervision. For further information on United Bankers Group, please visit unitedbankers.fi.

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