Fasadgruppen broadens its offering with steel constructions through the acquisition of GAJ Stålkonstruktioner AB
Fasadgruppen broadens its offering with steel constructions and forging through the acquisition of GAJ Stålkonstruktioner AB (”GAJ”).
GAJ was founded in 1935 by Gustav Albert Johansson under the name G.A Johanssons Smidesverkstad. The company is run by the third generation of an entrepreneurial family and offers fabrication, assembly and maintenance of steel constructions such as steel frames, steel stairs, steel railings and constructions in corten steel for outdoor environments. In 2018, GAJ acquired the welding company Eskilstuna Allsmide AB and the two businesses were merged in 2021. GAJ is based in Eskilstuna and Katrineholm and carries out projects throughout the Mälardalen area for mainly construction companies, property owners and municipalities. GAJ has 35 full-time employees, and for the financial year 2021, its revenues amounted to approximately SEK 57 million.
Peter Polland, Business Area Manager Fasadgruppen NorthEast, said: “The acquisition of GAJ means that we expand our offering with a specialised service that completes the existing operations of Fasadgruppen in a great way. GAJ is a reputable family business that has been run with a strong entrepreneurial spirit, why we also see a strong cultural match with Fasadgruppen’s values."
Nils Andrén, CEO of GAJ, said: “It is exciting to join Fasadgruppen and become part of a larger context where we can run and develop the business. We look forward to working with the other companies in the group and explore new sales opportunities together.”
Fasadgruppen is using existing cash to finance the acquisition. The seller has undertaken to re-invest part of the purchase price by acquiring existing shares in Fasadgruppen within the next three months for an amount corresponding to SEK 9 million. The shares bought under the re-investment are subject to a lock-up commitment for 24 months. The completion of the acquisition is not subject to any conditions, and GAJ will therefore immediately become part of Fasadgruppen.