Livingstone’s Industrial sector team has advised the shareholders of Areco Steel AB on the acquisition of Tonito Plåtgrossisten AB.
Founded in 1944, Areco is one of the leading companies within production of construction steel. The company employs 110 people and has an annual turnover of c. SEK 800m.
Tonito is a metal sheet wholesaler providing rainwater solutions, roof- and wall claddings, FA-sheets, and products for ventilation and roof safety to the Swedish market. The acquisition will increase Areco’s presence in the metal sheet industry significantly.
“The combination of Tonito’s well-established services and market knowledge, alongside Areco’s wide product range and strong financial position will ensure continued strong relationships with Tonito’s customers,” said Areco’s owner, Peter Areskog. “The acquisition is further step in our development and we are expecting increased efficiency in distribution with additional stores in Malmö, Växjö and Virserum.”
“Our knowledge about the products and the industry provides Areco with the opportunity to develop its relationships with customers in the metal sheet industry. For our customers, this acquisition will broaden the product portfolio and strengthen our offering. In addition, Areco has an ambitious growth plan with growth initiatives for the local markets.” comments Dietrich Goldschmidt, CEO of Tonito.
“We have tracked Areco’s development for several years. We are pleased that we have been able to assist Areco on this acquisition, and we look forward to following Areco’s development in the future, comments Thomas Karlsson, Partner at Livingstone.