Volati has acquired all the shares in Terästorni Oy, a global market leader in manufacturing and supplying large scale equipment and storage tanks predominantly used in the pulp and paper industry. This is an add-on acquisition to Volati’s subsidiary, Tornum Group, which operates within the industry business area.
Terästorni was founded in 1968 and is headquartered in Lappeenranta, Finland. The company is well managed and places great emphasis on delivering high-quality products. It has a strong market position within its niche of constructing large pressure vessels such as digesters, reactors, and pulp towers as well as storage tanks.
“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.
Carlsquare acted as the exclusive financial advisor to Volati.
