HELSINKI--(BUSINESS WIRE)--Purso Group Oy, based in Nokia, Finland, has bought the share capital of the Dutch company Nedal Aluminium B.V. in the largest company acquisition of its history. Purso Oy processes aluminium into profiles and components as well as building and lighting systems. The transaction doubles Purso’s production capacity and opens new markets in Central Europe.
In the transaction, Purso is buying the subsidiary Nedal Aluminium from the listed Dutch company Hunter Douglas. Nedal Aluminium focuses on the high-quality manufacturing of mostly large aluminium profiles in particular and has a production plant in Utrecht, the Netherlands. The transaction price will not be made public.
Last year, the turnover of Nedal Aluminium B.V. was approximately EUR 75 million, and the company has approximately 200 employees. The production plant in Utrecht comprises three extrusion lines which are used for manufacturing of particularly large and heavy profiles. In addition of its extrusion activities Nedal is a main manufacturer of aluminium lighting columns.
“Combining the expertise of two traditional aluminum processors”
“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,” says Jussi Aro, CEO of Purso Oy, summing up the benefits of the transaction.
“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.”
“Domestic production will not be moved to the Netherlands through the transaction. Our factories in Finland are known for very refined further processing, so it is entirely possible that aluminium profiles manufactured by Nedal in the Netherlands will also be processed in Finland in the future,” Jussi Aro adds.
Nedal continues in Purso Group as a separate company
Nedal Aluminium B.V. continues operating as a separate, independent company in the Purso Group. Synergy benefits are sought through the acquisition of raw materials and sales functions, for example.
“Both production units continue to focus on manufacturing short-run specialty products instead of volume products. We are also keeping our customer-tailored production model, which has helped us maintain long-term customer relationships,” says Jussi Aro.
“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”, says Marcel Veldman, Managing Director of Nedal Aluminium. As a niche player Nedal has a strong reputation in the field of large, heavy, lengthier and more complex extrusions in a variety of uncommon alloys. It services a wide range of markets throughout Europe and for certain specific products even beyond that. “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”
In 1959, Purso started operating as an anodizing plant for aluminum profiles. Purso Oy and its first aluminum extrusion line started operating in Siuro, Nokia, in 1974. Currently, the Group also comprises Linjapinta Oy, focusing on powder coating, and Purso AluCool Oy, a manufacturer of aluminum cooling elements. The companies’ total turnover in 2018 was over EUR 90 million, and the number of staff is 270. Turnover of Purso Group will be after the acquisition approximately EUR 170 million.