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Toolfac’s machining expertise strengthens HANZA
Toolfac, a Finnish high-tech manufacturer focusing on machining, has been acquired by industrial manufacturer HANZA Holding.
The total purchase price of an estimated 34 million Swedish krona (approx. 3.3 million euros) is to be paid partly in cash and partly in shares.
Toolfac offers machining with a high degree of robotisation, boasting special expertise in hydraulic and pneumatic components, as well as valve systems. The Finnish company has about 60 employees and has reported an annual operating profit of around 870 000 euros on net sales of around 7.7 million euros.
“Toolfac fits perfectly into our acquisition strategy – technologically, geographically and competence-wise,” said Erik Stenfors, CEO of HANZA. “It is a well-managed company with excellent customer relations and the acquisition is an important step in HANZA’s development.”
Toolfac will now be integrated into HANZA’s manufacturing cluster in Finland.
“We are pleased to see HANZA as the new owner of Toolfac,” commented Pekka Koponen, CEO and co-owner of Toolfac. “HANZA’s business model creates completely new opportunities for Toolfac.”