Virala Acquisition Company and Purmo Group merge to form a publicly listed company aiming for global leadership in sustainable indoor climate comfort solutions.

Purmo Group is a leading provider of sustainable indoor climate comfort solutions with revenues of EUR 671 million in 2020. In the merger, Purmo Group is valued at an enterprise value (EV) of EUR 685 million. Upon completion, the merger is expected to become the first de-SPAC in the Nordics. The transaction is expected to be completed by the end of December 2021. Purmo Group is a subsidiary of Rettig Group, and in connection with the transaction Rettig Group will become a significant shareholder in the combined company, which will become listed on the official list of Nasdaq Helsinki.