9/8/2006 10:00 AM Ahlsell acquires leading Estonian wholesaler in the heating & plumbing sector
Ahlsell AB has concluded an agreement with the owners of AS FEB to
acquire the company. AS FEB is a market leader on the Estonian market
with a broad range of heating & plumbing products.
The company has an annual turnover of about EUR 25 million and about 120 employees. AS FEB, which was founded in 1991, is headquartered in Tallinn and has operations in all Estonia's regions with eight outlets in six cities: Tallinn, Tartu, Narva, Pärnu, Viljandi and Rakvere.
"This acquisition gives Ahlsell an entry onto the Estonian heating & plumbing market where we are establishing ourselves as a market leader. Apart from a strongly positioned and well-established company, we gain access to a fast-growing market in an interesting region where Ahlsell's wide product range can create new business opportunities", says Göran Näsholm, President and CEO of Ahlsell.
The company's current management, under CEO Janno Raide, will continue to run its activities under Ahlsell's head of Finnish operations, Mika Salokangas, CEO of Ahlsell Finland.
"With Ahlsell's resources, we have good opportunities to further strengthen our position on the Estonian market both locally and in a broader geographical context" says Janno Raide, CEO of AS FEB.
The acquisition comes into effect as of today's date and will make a positive contribution to the Group's operating result from 2006.
For further information, please contact Göran Näsholm, President and CEO, or Ahlsell is the Nordic region's largest trading company in installation products and tools & machinery. It offers a wide range of products and peripheral services to professional users in the following segments: heating & plumbing, electrical, tools and machinery, refrigeration and DIY. The Group has an annual turnover of approx. SEK 20 billion and about 4,000 employees.
Camilla Weiner, CIO, on + 46 8-685 70 00.