Inwido acquires Finnish Profin Oy
Inwido, Europe’s largest supplier of windows, has signed an agreement to acquire Profin Group, a Finnish family business focusing on premium sliding doors and windows. Founded in 1977, the company has some 60 employees and a turnover of SEK 120 million. Inwido acquires 100 percent of the shares and closing is expected to occur 1 July 2018.
Profin is a family business with its roots in Northern Finland. The company combine traditional craftsmanship and modern technology to create highly qualitative products that are designed to withstand the harsh climate of the north: high-quality sliding doors, windows, and doors.
Over the past decade, Profin has become synonymous with high-quality sliding doors and is the market leader in this segment in Finland. In addition to its home market Finland, Profin also exports to several other EU countries, Japan and Russia.
“Profin complements our Finnish brands very well with a more premium position on the market. A key opportunity has been discovered in the fast growing luxury segment dominated by panorama window sizes and sliding doors currently only operated in Finland by Inwido’s existing brand Klas1 and Profin” says Håkan Jeppsson, President and CEO at Inwido.
“From the beginning, our aim has been to manufacture high-quality windows and doors that last for decades, or even centuries – the entire life span of the building. After 40 years as a family business we look forward to become part of the Inwido family and Europe´s largest window supplier,” says Mikko Haapala Managing Director Profin.
The purchase price is in line with Inwido’s regular multiples. The final purchase price is contingent on Profin reaching certain financial milestones in 2018. The acquisition is financed by available credit facilities.
For further information, please contact:
Håkan Jeppsson, President and CEO
Tel.: +46 (0)10-451 45 51 or
Johan Berg, MD Inwido Finland
Tel: +358 45 65 77 000
About Inwido
Inwido is Europe’s largest supplier of windows and a leading door supplier. The company has operations in Denmark, Finland, Norway, Sweden, Austria, Estonia, Ireland, Lithuania, Romania, Poland and the UK, as well as exports to a large number of other countries. The Group markets some 20 strong local brands including Elitfönster, SnickarPer, Hajom, Hemmafönster, Outline, Tiivi, Pihla, Diplomat and Sokolka. Inwido has approximately 4,400 employees and generated sales of slightly more than SEK 6.4 billion in 2017. The Group's headquarters are located in Malmö, Sweden. For further information, please visit www.inwido.com
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