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Saturday, 27.04.2024, 00:00
Wurth Group buys electrical equipment wholesaler Elektroskandia Baltics
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The sale of Elektroskandia Baltics to Wurth by Rexel Group is part of Rexel Group's strategic plan to divest its operations in the Baltic countries, Slovakia and Poland, announced by Rexel in February 2015.
The merger of Elektroskandia Baltics and Talger-Elektrotehnika is aimed at strengthening the position of Wurth on the market. The consolidated company will have an annual revenue of approximately 25 million euros.
The transaction is scheduled for completion in spring 2016.
Timo Raimla, board member of Elektroskandia, said increased volume of purchases will enable the company to offer customers a lower price. "Besides a consolidation like this helps to put in order the market for electrical supplies, where the offer of low-quality products has increased as a result of the arrival of new and small wholesalers of late," he said.
Wurth Group is a family-owned wholesaler that has been in business since 1945.
Elektroskandia Baltics finished the year 2014 with a loss of 150,000 euros on sales of 15.1 million euros.
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