Finnish aluminium profiles firm Purso Group Oy announced last week the purchase of Dutch competitor Nedal Aluminium B.V. for an undisclosed sum. Purso’s purchase of the Hunter Douglas subsidiary represents its biggest corporate acquisition to date.
Purso’s acquisition of Nedal includes a production plant in Utrecht with three extrusion lines dedicated to the production of large and heavy profiles. Nedal employs about 200 individuals and boasted a turnover last year of €75 million (US$86 million).
Jussi Aro, CEO of Purso Oy, highlighted the firms’ several similarities, noting the advantages the pairing provides to both parties.
“The transaction brings together the expertise of two traditional aluminum processors when Purso, 60 years, initiates a partnership with the 80-year-old Nedal. Besides doubling our production capacity, this transaction helps us strengthen and expand our market reach significantly towards Central Europe in accordance with our strategy.
“Our two aluminium extrusion lines in Nokia have been fully loaded for a while now, so we have been thinking about different possibilities for increasing the capacity. The Nedal transaction provides the necessary additional capacity and expands our product range towards larger aluminium profiles.”
Marcel Veldman, Managing Director of Nedal Aluminium opined that, despite the significant change, the benefits of the finished deal far exceed any difficulties in the process to achieve it.
“Changing ownership only for the 2nd time in its rich 80 years of history this is a major change to all involved. The search for a new shareholder was a very challenging process, but worth it. The engagement with Purso feels like a warm welcome and has all elements to continue growing both companies into the future. Both companies have a very clear focus and that is not to follow the footsteps of classical extruders but to build long standing partnerships with customers adding more value for both. We are excited about the future and proud to join the Purso group.”
Though coming into the Purso fold with this purchase, Purso indicates that Nedal will continue operating as a stand-alone firm. In addition, Purso assured investors that no Finnish capacity will be moved to the Netherlands as the result of the transaction. The two entities will collaborate on raw materials and sales functions, however.