Salix Group acquires Gunnar Eiklid.
Volati has acquired all shares in the lock and fittings company Gunnar Eiklid AS. The acquisition is an add-on acquisition for the Salix Group business area. Gunnar Eiklid AS reported sales of approximately NOK 36 million in 2021.
“Add-on acquisitions to existing business units are an important part of Volati’s and Salix Group’s strategy for creating long-term value growth. They reinforce the business units’ market positions and add further value through synergies. In Gunnar Eiklid we are acquiring a good, well-managed company with a strong position in locks and fittings,” says Salix Group CEO Martin Hansson.
Gunnar Eiklid is one of Norway’s largest wholesalers and suppliers of locks and fittings to industry, with over 50 years of experience in the sector. The company’s customers include the woodworking industry, locksmiths, the mechanical industry and façade manufacturers. This is Volati’s second add-on acquisition of 2022 and Salix Group’s first.
“The acquisition of Gunnar Eiklid is another step towards consolidating our presence in Norway. The company operates in a sector where we have extensive experience and we believe we can add even greater value together. With Gunnar Eiklid in our business area, we see great potential to develop the product segment going forward,” says Martin Hansson.
The acquisition has been financed through Volati’s existing credit facilities, with immediate access to the shares.
Read more here