Volati has acquired all shares in Apisa S.L., a Spanish market leader in drying and storage solutions for grain, feed and biomass. The acquisition is an add-on acquisition for the Industry business area and the Tornum business unit. The acquisition strengthens Tornum's offering in grain and feed handling and gives the company a stronger market position in Europe, where the Spanish grain handling market is one of the largest. Apisa reported annual sales of approximately EUR 15 million for the last financial year.
The acquisition of Apisa is Volati's sixth acquisition of 2021 and the second add-on acquisition of the year for Tornum. As a result, Tornum's annual sales have increased from approximately SEK 450 million to approximately SEK 700 million and the company is one of Europe's leading players in its niche.
"Add-on acquisitions for existing companies are an important part of Volati's strategy for creating long-term value growth. They reinforce and accelerate the companies' work in line with adopted strategies and create further value through synergies. We are pleased at the opportunity to acquire the Spanish company Apisa. The acquisition fits in well with Tornum's European growth strategy and creates opportunities for considerable sales synergies as we gain access to both attractive products and new markets," says Nicklas Margård, Head of Business Area Industry.
Apisa is an entrepreneurial company with about 50 employees and is headquartered in the Spanish city of Huesca. It is a market-leading supplier in its niche, both in Spain and in other selected markets such as Latin and South America. The company has a broad product portfolio within interesting product segments for grain, feed and biomass handling.
"I am very pleased to welcome Apisa to Tornum. We have clearly consolidated our position in the Nordic region with the JPT-Industria acquisition earlier this year and we are now taking steps to further strengthen our European presence. This year's two acquisitions also play an important part in our focus on the Industry market segment. They complement our product portfolio and make us a significant turnkey supplier of grain and biomass handling plants," says Tornum CEO Jerker Funnemark.
The acquisition is financed through Volati's existing credit facilities and the company will be consolidated from July 2021. The acquisition is not expected to have any significant impact on Volati's results for 2021.
For further information, please contact:
Andreas Stenbäck, CEO Volati AB, +46 70 889 09 60, andreas.stenback@volati.se
Nicklas Margård, Head of Business Area Industry, +46 76 200 85 78, nicklas.margard@volati.se
Volati AB (publ)
Engelbrektsplan 1, SE-114 34 Stockholm
Tel: +46 8 21 68 40
Email: info@volati.se
Corp. reg. no.: 556555-4317
About Volati
Volati is a Swedish industrial group, founded in 2003, consisting of the business areas Salix Group and Industry. Volati mainly acquires companies with proven business models, leading market positions and strong cash flows at reasonable valuations and develops them with a focus on long-term value creation. The strategy is to build on the companies' identity and entrepreneurial spirit, adding leadership, expertise, processes and financial resources. Volati has operations in 16 countries, approximately 1,500 employees and annual sales of just over SEK 5 billion. Volati's ordinary shares and preference shares are listed on Nasdaq Stockholm. Further information is available at www.volati.se.