Volati’s business unit Tornum AB acquires Silokonsult Göran Persson AB
Volati’s business unit Tornum AB has today completed the acquisition of all outstanding shares in Silokonsult Göran Persson AB – a Swedish supplier of machinery and planning for the grain and milling industries.
The acquisition of Silokonsult Göran Persson AB will strengthen Tornum’s position as a leading supplier of grain processing equipment for industrial customers in Sweden. Revenues for the fiscal year ending in April 2017 amounted to approximately SEK 60 million. The revenue and the profit for last fiscal year was positively affected by a larger project. Due to the project-based nature of the business the profitability of the company is somewhat varied, but is historically estimated to have had an average underlying operating profit of SEK 4 million annually. The shares in Silokonsult Göran Persson AB will be acquired for a total consideration of SEK 31.5 million, including an estimated net cash position of approximately SEK 18 million. The acquisition of the company is completed and the company will be consolidated into Volati as of today.
Silokonsult Göran Persson is a supplier and planning company, serving customers all over Sweden. The customer base is mainly in the grain, milling, feed, livestock and seed industries. The company is headquartered in Skara, but projects are carried out all over Sweden. Silokonsult is one of the most well-known brands in the industry. To secure a successful integration of the company, the founder and former owner, Göran Persson, will continue his engagements with the company.
“We continually, together with our business units, evaluate acquisition opportunities that can strengthen their competiveness and create value. Since Volati acquired Tornum in 2003 the company has completed three add-on acquisitions and I am very pleased that Tornum is continuing to develop its business with the acquisition of Silokonsult”, said Mårten Andersson, CEO of Volati.
For additional information, please contact:
Mårten Andersson, CEO, Volati AB, +46 72-735 42 84, marten.andersson@volati.se
Per Larsson, CEO, Tornum AB, +46 70-389 91 19, per.larsson@tornum.se
About Volat
Volati is a Swedish industrial group formed in 2003, comprising some 40 operating companies divided into thirteen business units organised in four business areas: Trading, Consumer, Industry and Akademibokhandeln. Volati acquires mainly companies with proven business models, leading market positions and strong cashflow at reasonable valuations and develops these with an emphasis on long-term value creation. Volati’s strategy is to build on the identity and entrepreneurial spirit of the companies, adding, leadership, expertise, processes and financial resources. Volati has operations in 16 countries, with a total of about 1,700 employees and annual sales of approximately SEK 5bn. Volati’s ordinary shares and preference shares are listed on Nasdaq Stockholm. Further information is available at www.volati.se.