Balco Group's subsidiary TBO Haglinds acquires Arutex AB
On November 30, Balco Group's subsidiary TBO Haglinds AB entered into an agreement to acquire all shares in the company Arutex AB. Closing will occur at the beginning of January 2023.
Arutex AB has been one of TBO's largest partners for several years, carrying out the assembly of balconies and glazing. The purpose of the purchase is to secure the availability of fitters as TBO grows. Arutex has a turnover of approximately SEK 14 million and currently has 12 employees. TBO intends to increase the workforce in Arutex, which will be operated as a subsidiary of TBO.
”We see this as a natural and positive extension of our fine collaboration with Arutex. For the employees in both companies, there will be no major changes either," says Pär Haglind, Managing Director of TBO Haglinds, in a comment.
For more information, please contact:
Pär Haglind, Managing Director TBO Haglinds AB, +46 70-607 46 43, par@tbo.se
Camilla Ekdahl, acting CEO Balco Group, +46 70-606 30 32, camilla.ekdahl@balco.se
Michael Grindborn, CFO and Head of IR Balco Group, +46 70-670 18 18, michael.grindborn@balco.se
Balco in short:
Balco is a balcony company with façade competence offering high quality, innovative, patented and energy-saving balcony solutions. The company’s customized products contribute to enhanced quality of life, security and an increase in value for residents of multi-family residential properties. Through a decentralized and efficient sales process, Balco has control over the entire value chain – from production to delivery. The company, which was founded in Växjö in 1987 and has approximately 500 employees, is a market leader in Scandinavia, and operates on several markets in northern Europe. Sales in 2021 amounted to SEK 1,120 M. Balco’s shares are listed on the Nasdaq Stockholm Stock Exchange.
For more information, please contact:
Pär Haglind, Managing Director TBO Haglinds
Tfn: +46 70-607 46 43
par@tbo.se
Camilla Ekdahl, Acting CEO
Tel: +46 70 606 30 32
camilla.ekdahl@balco.se
Michael Grindborn, CFO and Head of IR
Tel: +46 70 670 18 48
michael.grindborn@balco.se
Balco is a balcony company with façade competence offering high quality, innovative, patented and energy-saving balcony solutions. The company’s customised products contribute to enhanced quality of life, security and an increase in value for residents of multi-family residential properties. Through a decentralized and efficient sales process, Balco has control over the entire value chain – from production to delivery. The company, which was founded in Växjö in 1987 and which has appr. 500 employees, is a market leader in Scandinavia, and operates on several markets in northern Europe. Sales in 2021 amounted to SEK 1,120 M. Balco’s shares are listed on the Nasdaq Stockholm Stock Exchange.