Livingstone’s Industrial sector team has advised leading Swedish manufacturer of construction steel products, Areco on the acquisitions of Liwa Gruppen and Takhuset i Sthlm. The acquisition increases Areco’s client base, overall size and presence in the Stockholm region, and is another step in the implementation of its growth plan.
Areco, a privately owned industrial group founded in 1944, is one of the leading companies within production of construction steel. The company employs over 200 staff and has an annual turnover of SEK 1.5 billion.
The acquisitions are the sixth and seventh made in the last two years and part of Areco’s long term expansion plan. The group’s wholesale business, comprising Construction Steel, Ventilation and Commercial Steel, has in just a few years grown from two to ten units and now has geographic coverage from southern Sweden up to the greater Stockholm area.
“I’m delighted to welcome Liwa Gruppen and Takhuset to the Areco group. The acquisitions are part of our strategy to increase our presence in the central parts of Sweden and double our turnover by 2020,” says Peter Areskog, Group CEO at Areco.
“For us at Livingstone, it’s a pleasure to be a long term adviser to Areco when it determinedly continues to expand in line with its growth strategy,” says Bertil Karlsson, Partner at Livingstone.
The transaction is the seventh consecutive where Livingstone acts as adviser to Areco, following, among others, the acquisition Éton in October 2015, Tonito in March 2015, and Dansk Profilteknik in September 2014.