Volati continues growth with acquisition of Pisla OY
Volati has acquired all shares in Finnish Pisla OY, the seventh add-on acquisition since 2019. The acquisition is an add-on acquisition for the Trading business area. Pisla reported sales of EUR 23.5 million in 2019. Pisla, together with Volati’s existing operations in Habo, will become a clear market leader in fittings for homes and buildings in Finland.
“We are delighted at the opportunity to acquire Pisla, a company we have followed and known for a long time. It is a well-managed company with good profitability and a very strong market position in Finland. This is the Trading business area’s largest acquisition to date outside Sweden and a result of our continuous efforts to identify potential acquisition candidates that can strengthen operations, both in Sweden and the Nordic region,” says Håkan Karlström, Head of Business Area Trading.
Pisla, headquartered in Viitasaari in central Finland, has just over 100 employees and is a nationwide market leader in fittings in Finland. The company has a wide range of fittings and furnishing products which are sold through hardware and furnishing stores. Pisla also owns the Muurikka brand, with operations in outdoor cooking, and Demerx, specialising in bathroom fittings.
“The acquisition strengthens and complements the business area’s existing offering in fittings and household products for the building materials and specialist retail sector. We also gain access to the Baltic market, and Pisla’s wide range will enable us to increase our impact in other existing Nordic markets,” says Håkan Karlström.
The acquisition has been financed through Volati’s existing credit facilities and the company will be consolidated from September 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.