Telesteps AB is acquired by Hultafors Group AB
Weibull M&A was the sellers’ advisor when Investment AB Latour, through its wholly owned subsidiary Hultafors Group AB, acquired 100% of the shares in Telesteps AB from Heim Holding AB.
Telesteps is a leading manufacturer of telescopic ladders for professional users. The company is headquartered in Tranås, Sweden, with sales spanning globally. Telestep’s net sales amount to approx. SEK 90 million in 2021 with a profitability that is on a par with Hultafors Group’s other operations.
‘’We have been interested in acquiring Telesteps for a long time because we see their product portfolio of telescopic ladders as an excellent complement to our offer in ladders today under our existing brand Wibe Ladders. We are very impressed by their strong brand and height of innovation, and we are looking forward to developing the business further together’’, says Torbjörn Eriksson, President Hardware Europe of Hultafors Group.
‘’Together with Hultafors Group, I see great potential to accelerate our growth and continue the international expansion journey, so it was a natural choice to continue with Hultafors Group as a long-term owner’’, says Peter Heim, CEO of Telesteps.
Hultafors Group is one of Europe’s largest companies that supplies workwear, shoes, head protection, hand tools and ladders for professional users. The products are developed, manufactured, and marketed as own brands and are available through leading distributors in about 70 countries globally, with an emphasis on Europe and North America. Hultafors Group has more than 1,600 employees with net sales of approx. SEK 5.5 billion.
Investment AB Latour is a mixed investment company consisting of a wholly owned industrial operation and a portfolio of listed holdings where Latour is the main owner or one of the main owners. The listed portfolio consists of ten significant holdings with a market value of approx. SEK 83 billion. The wholly owned industrial operation has a turnover of SEK 17 billion.
Read the press release with more information about the transaction here
If you are looking for more information about the transaction, you are welcome to contact project manager Daniel Pålsson on 0725–459 375. Henric Stråth at Moll Wendén Advokatbyrå has joined the team as a legal advisor.
