6/14/2007 6:00 AM Ahlsell acquires leading Estonian tools & machinery distributor
Ahlsell has agreed with the owners of Satter AS to acquire the company, a distributor of tools and machinery with annual turnover of approximately SEK 60 million and 30 employees. The company has outlets in Tartu, Rakvere, Pärnu, Jöhvi and Tallinn, where its headquarter is located. This acquisition makes Ahlsell leader in tools & machinery in the Estonian market.
"Thanks to Satter AS, Ahlsell acquires a strongly positioned company in a growing market. Together with FEB, our existing company in Estonia which is a market leader in the Heating & Plumbing product range, Ahlsell becomes a strong partner for customers in the Estonian industry in general, and for customers in the building trade in particular " says Göran Näsholm, President and CEO of Ahlsell.
Madis Puhm, one of the owners of the acquired company, has been appointed Managing Director in the acquired business to assure continued operations under Ahlsell's ownership.
The acquisition is subject to approval by the Estonian Competition Authority.
For further information, please contact Göran Näsholm, President and CEO, on +46 708 23 71 00 or Camilla Weiner, CIO, on +46 734 04 70 62.
Ahlsell is one of the Nordic region's leading trading companies within installation products, tools and machinery. Ahlsell offers professional users a wide range of goods and peripheral services within the product segments of Heating & Plumbing, Electricity, Tools & Machinery, Construction, Refrigeration and DIY (Do-it-yourself). The Group has an annual turnover of about 2 billion Euro and some 4,500 employees. We operate in Sweden, Finland, Norway, Denmark, Estonia and Russia.