Finland’s Parma to take over TMB Group
Parma, the Finnish subsidiary of the leading supplier of pre-cast concrete solutions in Europe, Consolis, has entered into an agreement to acquire the Estonia-based TMB Group.
TMB Group is a producer and assembler of concrete elements with subsidiaries in Finland, Sweden, Estonia and Latvia, a headcount of around 500 and annual net sales that exceeded 120 million euros in 2017.
“We view that the acquisition will make us a stronger operator in the Baltic Sea region. TMB’s expertise will bolster our product and service portfolio, guaranteeing our customers industry-leading knowhow in both residential and infrastructure construction,” comments Jarmo Viljanen, the managing director of Parma.
“The integration will create significant synergies and improve the efficiency of all business operations,” he continues.
Parma is the largest producer of concrete elements in Finland with operations in 10 localities, a headcount of around 750 and annual net sales of 170 million euros.
The purchase agreement was signed on behalf of Parma by Consolis.
Nicolas Yatzimirsky, the CEO of Consolis, believes the acquisition will prove beneficial to both Consolis and TMB Group. “Combining our strengths will benefit customers through an extended and wider range of solutions and services,” he states.
The acquisition is subject to regulatory approvals and is expected to be completed in early 2019.