Salix Group acquires Nibu and SkanCo.
Volati has acquired all shares in the kitchen and interior fittings company Norholding Invest AS. The acquisition is an add-on acquisition for the Salix Group business area. Norholding Invest and its subsidiaries Nibu AS and Skandinavisk Beslagskompani AB (SkanCo) had sales of approximately NOK 140 million in 2021. The acquisition strengthens Salix Group’s market position in Norway where Nibu, Sørbø Industribeslag AS and Gunnar Eiklid AS will together become one of the country’s leading players in the fittings segment.
“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 Norholding Invest, we are acquiring a well-managed company with a market-leading position in kitchen and interior fittings which complements our existing range well,” says Salix Group CEO Martin Hansson.
Nibu is one of Norway’s leading specialist wholesalers of kitchen and interior fittings and was founded in 1972. The company supplies its products to kitchen stores, plumbing suppliers and hardware retailers. Norholding Invest also has a growing presence in Sweden through SkanCo. This is Volati’s fifth acquisition of 2022 and Salix Group’s second.
“With Nibu and SkanCo, we are strengthening our position in Norway and Sweden while, together with Sørbø Industribeslag and Gunnar Eiklid, creating a platform for further growth in Norway. The acquisition fits in well with our strategic investment in the Nordic region and will contribute to an even stronger offering to customers,” says Martin Hansson.
The acquisition has been financed through Volati’s existing credit facilities, with immediate access to the shares.
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