SWEDISH HANZA ACQUIRES TOOLFAC OY TO ITS FINNISH BUSINESS CLUSTER
On this day, HANZA Holding AB (publ), listed on First North, has acquired Toolfac Oy (“Toolfac”), a Finnish high-tech manufacturer focused on machining. Toolfac has around 60 employees in Iisalmi, Finland. The price comprises a cash share, holdings and an additional price tied to the company’s profits.
Toolfac will be integrated into HANZA’s Finnish manufacturing cluster. Toolfac provides machining with a high level of robotization and has special expertise in hydraulic and pneumatic components and valve systems. In 2018, Toolfac’s turnover was around EUR 8 million and profits around EUR 0.9 million.
“Toolfac fits perfectly into our acquisition strategy – technologically, geographically and competence-wise,” says Erik Stenfors, CEO of HANZA. “It is a well-managed company with excellent customer relations and the acquisition is an important step in HANZA’s development.”
“We are pleased to see HANZA as the new owner of Toolfac,” says Pekka Koponen, CEO and co-owner of Toolfac. “HANZA’s business model creates completely new opportunities for Toolfac, while also adding a new excellence to HANZA.”
“Toolfac has done substantial investments in recent years to create growth and profitability,” says Pekka Hietala, partner of Canelco Capital Oy. “From Toolfac, HANZA will get a modern company as part of their future plans.”
Toolfac Oy has doubled its turnover in a few years, strongly investing in renewal and automation as well as putting major efforts in customer relations and close cooperation with the product development of its clients.
Inquiries: Mikko Kuparinen, CEO, +358 400 606 055, mikko.kuparinen@mikkohopia.net