INWIDO AB is to acquire Lenhovdafönster AB in Lenhovda. Lenhovdafönster, which produces triple-glazed windows, had sales of just over SEK 90 million in 2004 and a profit after depreciation of approximately SEK14 million.
Lenhovdafönster was founded in 1999 by three former Elitfönster employees. Under their management, due to their knowledge of the market, products and production, the company quickly attained a good market position, primarily within the building materials trade.
The window market has shown strong growth in recent years and several of the brands within the INWIDO Group have also increased their market shares which has resulted in insufficient capacity. This mainly applies within the building materials trade where triple-glazed windows are the main product.
- Elitfönster's Marketing Director Börje Bellinger comments: "The acquisition of Lenhovdafönster, which has production facilities close to Elitfönster's factory in Lenhovda, will allow a rapid increase in capacity for triple-glazed windows."
- Bellinger continues: "Lenhovdafönster is close to Elitfönster not only geographically but also in terms of corporate culture. Our product ranges complement each other and even today we partly work with the same customer segment."
The merger with Lenhovdafönster is also expected to provide certain synergies on the purchasing side.
Following the acquisition, INWIDO will have just over 1,300 employees and annual sales of approximately SEK 2.1 billion. Ratos owns 95% of INWIDO with senior management owning the remaining 5%.
For additional information, please contact:
Leif Johansson, Senior Investment Manager Ratos, +46 8 700 17 00
Anna-Karin Celsing, Head of Corporate Communications Ratos, +46 70 399 62 39
Börje Bellinger, Marketing Director Elitfönster, +46 383 76 34 00