LOGSTOR has signed an agreement to acquire Powerpipe Systems
Stockholm/Gothenburg (Sweden), 7 September 2015 - Triton Fund III portfolio company Logstor has signed an agreement to purchase Powerpipe Systems AB, a Swedish-based leading provider of pre-insulated pipe systems with attractive market positions in Northern Europe and selected export markets. The company, which has a strong brand based on a well-situated production facility outside Gothenburg, Sweden, is focused on ensuring customers flexible deliveries and short lead times on customized and standard products.
"The acquisition of Powerpipe Systems is in line with our strategy to grow Logstor. The Northern European region is important for the Logstor group, and as such Powerpipe Systems is a company with promising growth prospects", said Thomas Hofvenstam, Head of Triton Advisers (Sweden) AB, investment professional and adviser to the Triton funds.
The acquisition is subject to approval by relevant competition authorities, and the parties have agreed not to disclose the acquisition price.
LOGSTOR is a leading supplier of pre‐insulated pipe systems for energy‐efficient transportation of liquids and gases for district heating and cooling as well as industrial purposes and oil and gas pipelines. The systems consist of flexible and rigid pipes, joints, fittings and surveillance. Inventing the pre-insulated pipe technology more than 50 years ago, LOGSTOR has delivered more than 185,000 km of pre‐insulated pipes.
Headquartered in Løgstør, Denmark, LOGSTOR has subsidiaries in Austria, China, Finland, France, Germany, Italy, Lithuania, the Netherlands, Poland, Romania, Russia, Sweden and Switzerland as well as a network of agents and sales offices. The Group's nine production facilities are situated in Denmark, Poland, Sweden, Finland, Romania and China, with supplementary mobile production units currently set up in Canada and Indonesia. The Group employs more than 1,200 people.
For further information: www.logstor.com
About Powerpipe Systems
Powerpipe Systems is a leading supplier of pre-insulated piping systems for district heating and cooling as well as industrial applications. The company's headquarters and production facility are situated outside Gothenburg, Sweden, and Powerpipe Systems has attractive market positions in Northern Europe and selected export markets.
Powerpipe Systems cooperates closely with its customers to continuously develop and improve engineering techniques and product quality. The company was established in 1987, and today 67 employees are dedicated to ensuring swift and reliable deliveries and meeting customer demand.
For further information: www.powerpipe.se
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Northern Europe - with a focus on Germany, Switzerland, Austria, Italy, Spain and the four Nordic countries: Denmark, Finland, Norway and Sweden. Within this European region, Triton focuses on businesses in the Industrial, Business Services, and Consumer/Health sectors.
Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 29 companies currently in Triton's portfolio have combined sales of over €13 billion and more than 55,500 employees. The Triton funds are advised by dedicated teams based in Germany, the Nordics, United Kingdom, Luxembourg, Jersey, Italy and China.
For further information: www.triton-partners.com
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