Holmen signed an agreement to acquire Martinsons, one of Sweden’s leading players in sawn and processed wood products.
The purchase price is SEK 1.0 billion (EUR 96.6 million) for 100 per cent of the shares. The acquisition will almost double Holmen’s sales of wood products to over SEK 3 billion (EUR 290 million), while also advancing positions in wood construction and providing Holmen with the capacity to process the majority of the raw material from its own forests in its own industry.
“Holmen has met all of our high expectations for a new owner. It is a stable company with the power to grow, though equally important for us is their genuine interest in the knowledge and experience accumulated in our operations. We are particularly pleased to have found an owner with a corporate culture that we believe will be an excellent fit with the culture that we have built up”, says Lars Martinson, CEO and one of the owners of Martinsons.
Martinsons consists of two well-invested sawmills in northern Sweden with extensive processing of wood products for Scandinavian wood construction, as well as a project operation for construction of complete frames made of cross-laminated timber (CLT) and glulam beams for purposes such as offices, sports centres and apartment buildings. The company has 470 employees, most of whom work in processing.