NEWS
Combining strengths
Inwido to acquire Lämpölux of Finland
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Tyman to acquire Giesse of Italy T
yman plc, a leading international supplier of engineered components to the door and window industry, has announced the acquisition of Giesse, an Italian based manufacturer of hardware for aluminium windows and doors. The acquisition represents a strategic opportunity to add a design-led hardware offering to Schlegel, the group’s international division, with a presence in the EMEAI and other markets. The acquisition is in line with the group’s strategy to develop and extend the Group’s product portfolio through a combination of internal R&D and targeted acquisitions. Louis Eperjesi, chief executive of Tyman, commented: “The acquisition of Giesse represents a strategic opportunity to add an initial hardware offering to our international division, Schlegel, as we seek to expand the range of engineered components we can offer our customers in all regions. Giesse offers an excellent fit with our business model and significantly broadens our coverage of the aluminium window and door market in Europe as well as giving Tyman local presence for the first time in a number of markets worldwide.” Visit: www.giesse.it
nwido, Europe’s largest supplier of windows and doors, has signed an agreement to acquire 83% of the shares in the Finnish window and door company Värmelux Oy that owns and runs the business under the brand name Lämpölux, with an option for the remaining 17%. At six years old, Lämpölux is a young brand that sells and installs windows, doors and garage doors in wood and wood/aluminium through 18 sales offices throughout Finland. The company, which was founded by the current management and is co-owned by its management and CapMan, has no proprietary production but is a customer of Inwido Finland, among others. “This is a very good acquisition for us,” says Håkan Jeppsson, president and CEO of Inwido. “Lämpölux brings expertise in sales, marketing and installation, providing an excellent complement to our existing operations in Finland.” Today, Lämpölux has about 180 employees and annual sales of about €29 million. The company is headquartered in Oulu, Finland. Visit: www.inwido.com
Fluor finalises acquisition of Netherlands-based Stork F
3M and Festool announce strategic collaboration
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M Company and TTS Tooltechnic Systems AG & Co. KG, maker of Festool brand products, have announced a strategic collaboration to provide customers in the global automotive collision repair industry with a new and comprehensive surface preparation and finishing system. The collaboration
16 Industry Europe
luor Corporation has closed its acquisition of Stork Holding B.V. Fluor announced in early December 2015 that the company had agreed to purchase 100% of Stork’s shares from UKbased private equity firm Arle Capital Partners. Stork is a global provider of maintenance, modification and asset integrity services associated with large existing industrial facilities in the oil and gas, chemical, petrochemical and power markets. Founded in 1827, Stork has long-term relationships with a diverse range of customers. It has operations in Continental Europe, the United Kingdom, the
Middle East, Asia-Pacific and the Americas. Stork’s business model is primarily based on ongoing operating budgets that are less impacted by capital spending plans and volatile commodity prices. The addition of Stork’s capabilities to the Fluor portfolio will help meet customers’ needs throughout the full lifecycle of an operating plant. Stork, along with Fluor’s current Operations & Maintenance organisation, will be led by Stork CEO Arnold Steenbakker and reported financially under the Global Services business segment. Visit: www.stork.com
brings together 3M’s best-in-class abrasives, global sales and distribution capabilities with Festool-branded premium power tools, dust extraction technologies and exceptional customer service to deliver a comprehensive portfolio of offerings to customers in the automotive aftermarket. As part of the strategic collaboration, 3M’s Automotive Aftermarket Division (AAD)
will eventually become the exclusive supplier of 3M and Festool Automotive Systems products in the automotive aftermarket. “We are proud to enter into this collaboration with 3M to offer a premium surface treatment system for body shops,” said Christian Oltzscher, chief sales officer, TTS Tooltechnic Systems AG & Co. KG.” Visit: www.festool.com
