Volati continues to grow through the acquisition of Terästorni
Volati has acquired all shares in Terästorni OY, a global market leader supplying equipment and tanks specifically designed for the pulp and paper industry. This is an add-on acquisition to Tornum Group that is operating within the Industry business area. The acquisition strengthens the offering to the pulp and paper industry and adds specialist expertise in advanced metal construction. Terästorni reported sales of EUR 21 million in 2021.
Terästorni is an entrepreneurial company with about 50 employees. The company was founded in 1968 and is headquartered in Lappeenranta in Finland. The company is well managed and has a strong market position within its niche. Terästornis main products are large pressure equipment and tanks, such as digesters, reactors, pulp towers and storage tanks. The company develops and constructs equipment and has a strong focus on delivering high-qualitative products.
“We are very pleased at the opportunity to acquire Terästorni, a company we followed for a time. The acquisition complements the offer in Tornum Group, and we also see the opportunity to broaden the offering in other Tornum companies. This means that the acquisition fits well into the growth strategy, where a broader equipment programme strengthens our position in the Nordic region and Europe,” says Jerker Funnemark, CEO of Tornum Group.
Add-on acquisitions are an important part of Volati’s strategy to create long-term value growth. They both reinforce the business units’ market positions and contribute further value through synergies.
“Terästorni has long experience in the industry and has conducted unique development work. It has succeeded in optimising products through its expertise in steel construction and continuous improvements over decades. The company has solid experience in international exports, with a global installed base of the company’s products. The company has promising growth opportunities and will make a positive contribution to the development of the Tornum Group,” says Nicklas Margård, Head of Business Area Industry.
The acquisition has been financed through Volati’s existing credit facilities and will take place with immediate access to the shares.
For further information, please contact:
Nicklas Margård, Head of Business Area Industry, +46 76 200 85 78, [email protected]
Andreas Stenbäck, CEO Volati AB, +46 70 889 09 60, [email protected]
Volati AB (publ)
Engelbrektsplan 1, SE-114 34 Stockholm
Tel: +46 8 21 68 40
Email: [email protected]
Corp. reg. no.: 556555-4317
About Volati
Volati is a Swedish industrial group, founded in 2003, consisting of the business areas Salix Group and Industry. Volati mainly acquires companies with proven business models, leading market positions and strong cash flows at reasonable valuations 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 18 countries, approximately 1,800 employees and annual sales of just over SEK 6 billion. Volati’s ordinary shares and preference shares are listed on Nasdaq Stockholm. Further information is available at www.volati.se.