United Bankers acquires Fourton

Translation: Original published in Finnish on 2/11/2026 at 8:08 pm EET.

United Bankers announced on Wednesday that it is acquiring the whole share capital of fund management company Fourton Oy. The transaction is small for United Bankers, but it is a strategically logical step in expanding the company's product offering and complements the current selection well.

A small but strategically suitable bolt-on acquisition

United Bankers is acquiring Fourton's entire share capital through a share exchange, and the fixed purchase price is estimated to be around 4.2 MEUR, excluding any additional purchase price. Fourton is a fund management company founded in 2003, with assets under management of some 150 MEUR at the end of 2025. Last year, the company's revenue was 1.3 MEUR and its operating profit was 0.4 MEUR. We believe the purchase price is at most neutral, and the success of the transaction depends on UB's ability to grow Fourton's funds from their current level. The transaction is small for United Bankers, as the Group AUM totaled about 4.9 BEUR at the end of June 2025. The transaction will be financed with UB's cash reserves.

The product range expands to Asia and European small-cap companies

The arrangement is strategically logical, as it brings new specialized expertise to United Bankers' offering, particularly from Asian markets and small and medium-sized companies in Central and Southern Europe. We have previously estimated that United Bankers is actively looking for small Finnish players that complement its product offering. Fourton would certainly have been an attractive acquisition target for other players in the sector, such as Titanium or Alexandria. United Bankers' strong distribution network provides a solid foundation for increasing sales of Fourton's high-quality funds.