Österberg Group acquires a part of West WeldingJanuary 24, 2019
Manor Oy has acquired 42 % of the share capital of West Welding Oy, on 18th of January 2019. After the deal, Manor Oy is the biggest shareholder in West Welding with a 42 % stake. 31 % of the shares are owned by people working in the management of West Welding Oy. Viafin Oy continues as a minority shareholder with a 27 % stake.
Manor Oy is a engineering company belonging to the Österberg Group, specializing in the manufacturing of pipe duct products and steel structures. Österberg Group is a family business with a long history, combined turnover of approximately EUR 30 million. Turnover of the Manor Oy is approximately EUR 7 million. The company employs approximately 25 people.
“Manor Oy has for a long time been supplying pipe duct products and steel structures to the energy sector. West Welding’s heavy engineering expertise brings more synergies to Manor Oy and we also see opportunities to serve new customers in co-operation with West Welding,” says Jens Österberg, Chairman of the Board of Manor Oy. After the deal, Jens Österberg has also been elected Chairman of the Board of West Welding Oy.
West Welding continues to focus on its engineering and project business in its target areas. The company’s consumer base consists of more and more direct engineering and equipment manufacturers in the process, energy, chemical and LNG sectors. The company employs approximately 25 people and its turnover is approximately EUR 5 million.
The aim of the acquisition is to develop West Welding Oy as a company and to seek growth in the export market. “We strive to strengthen market share in the Swedish process industry”, says Panu Perasto, Project Director of West Welding. “Gas equipment and LNG expertise are more and more on our priorities”, Perasto continues.
“West Welding’s business has been more stable over the past year. We are pleased that the company’s performance has improved with the correct strategic changes. With a second owner from engineering industry, the company has very good starting points to continue this development”, says Janne Halonen, Managing Director of West Welding. After the deal Janne Halonen continues his former position, as a Managing Director.
Further information about the company:
West Welding Oy, Managing Director, Janne Halonen, email: email@example.com
Westin omistaja vaihtui, Ilkka-lehti 24.1.2019 (in Finnish)