Volati acquires Heco Nordiska
Volati has acquired all of the shares in the screws and fastenings supplier Heco Nordiska AB. The acquisition is an add-on acquisition for the Trading business area. Heco reported sales of SEK 183 million in 2019.
“Add-on acquisitions to existing business units are an important part of Volati’s strategy for creating long-term value growth. They reinforce the business units’ market positions and add further value through synergies. In Heco Nordiska AB we are acquiring a well-managed company with good profitability and a strong market position in the fastening products niche,” says Håkan Karlström, Head of Business Area Trading.
Heco has its registered office in Hillerstorp and is a long-established partner to professional customers in construction, steel and sheet metal contract work. The company develops and markets a wide range of screws and fastenings, from the very latest screw innovations to conventional wood screws. The products are found in the hardware and building materials retail sector.
“With Heco, we will strengthen and supplement the business area’s existing offering within professional fastenings, which is an important part of the process of developing the business area,” says Håkan Karlström.
The acquisition has been financed through Volati’s existing credit facilities and the company will be consolidated from January 2020. The acquisition is not expected to have any significant impact on Volati’s earnings for 2020.
For further information, please contact:
Håkan Karlström, Head of Business Area Trading, +46 70 522 40 52, hakan.karlstrom@volati.se
Mårten Andersson, CEO Volati AB, +46 72 735 42 84, marten.andersson@volati.se
Volati AB (publ)
Engelbrektsplan 1, SE-114 34 Stockholm
Tel: +46 8 21 68 40
Email: info@volati.se
Corp.reg.no.: 556555-4317
About Volati
Volati is a Swedish industrial group, formed in 2003, organised in four business areas: Trading, Consumer, Akademibokhandeln and Industry. Volati mainly acquires reasonably valued companies with proven business models, leading market positions and strong cash flows and develops them with a focus on long-term value creation. The strategy is to build on the companies’ identity and entrepreneurial spirit, adding leadership, expertise, processes and financial resources. Volati has operations in 16 countries, over 2,000 employees and annual sales of approximately SEK 7 billion. Volati’s ordinary shares and preference shares are listed on Nasdaq Stockholm. Further information is available at www.volati.se.