LOGSTOR acquires Powerpipe Systems
LOGSTOR, a market leader in pre-insulated pipe systems for district heating and cooling and supplier to the oil and gas sector as well as the chemical and food industries, strengthens its position in Northern Europe with the acquisition of Powerpipe Systems AB.
LOGSTOR has today entered into an agreement to acquire Powerpipe Systems, a Swedish-based leading provider of pre-insulated pipe systems with strong market positions in Northern Europe and selected export markets. Powerpipe Systems posted 2014 revenue of SEK 330 million and earnings (EBITDA) of SEK 11 million. The company, which has a robust brand based on a wellsituated production facility outside Gothenburg, Sweden, is focused on ensuring customers flexible deliveries and short lead times on customized and standard products.
"Powerpipe Systems is a well-run and highly respected company with good customer relationships and promising growth prospects. We are continuously striving to improve LOGSTOR’s performance by investing in innovation and business development, and the acquisition of Powerpipe Systems fits our Group strategy of fueling growth through a dedicated customer focus," said Yves Paletta, President & CEO of LOGSTOR.
LOGSTOR and Powerpipe Systems will continue servicing their customers through their respective brands, and the acquisition does not entail organizational changes or changes to customer contracts or warranties.
"We are looking forward to continuing the positive development of Powerpipe Systems under new ownership with a solid financial foundation and getting access to LOGSTOR’s expertise. This will allow us to develop further our product and service offering for the entire life cycle of the products for the benefit of our customers" said Johan Korpås, Managing Director of Powerpipe Systems.
"We have created a strong business with an established position in Northern European countries, and we are pleased that a global leader such as LOGSTOR recognizes our efforts and dedication to ensure customer satisfaction by always keeping our promises," said Ulf Andreasson Marketing Director of Powerpipe Systems.
The acquisition is subject to approval by relevant competition authorities, and the parties have agreed not to disclose the acquisition price.
For additional information, please contact
Yves Paletta, President & CEO of LOGSTOR, +45 9966 1000
Johan Korpås, Managing Director of Powerpipe Systems, +46 3157 7804
LOGSTOR is a leading supplier of pre-insulated pipe systems for energy-efficient transportation of liquids and gases for district heating and cooling as well as industrial purposes and oil and gas pipelines. The systems consist of flexible and rigid pipes, joints, fittings and surveillance. Inventing the pre-insulated pipe technology more than 50 years ago, LOGSTOR has delivered more than 185,000 km of pre-insulated pipes and recorded revenue of DKK 1,871 million and earnings (EBITDA) of DKK 115 million in 2014.
Headquartered in Løgstør, Denmark, LOGSTOR has subsidiaries in Austria, China, Finland, France, Germany, Italy, Lithuania, the Netherlands, Poland, Romania, Russia, Sweden and Switzerland as well as a network of agents and sales offices. The Group’s 9 production facilities are situated in Denmark, Poland, Sweden, Finland, Romania and China, with supplementary mobile production units currently set up in Canada and Indonesia. The Group employs more than 1,200 people.
LOGSTOR is owned by Triton Fund III. Triton is a private equity investment firm investing in medium-sized businesses in Northern Europe. Triton focuses on companies with the potential to create sustainable, long-term value through changing economic cycles and works closely with management to achieve that. Triton funds are currently invested in companies in Germany, Switzerland, Austria, Italy, Spain, Denmark, Finland, Norway and Sweden, with combined sales of around EUR 13.5 billion and more than 58,000 employees.
About Powerpipe Systems
Powerpipe Systems is a leading supplier of pre-insulated piping systems for district heating and cooling. The company’s headquarters and production facility are situated outside Gothenburg, Sweden, and Powerpipe Systems has strong market positions in Northern Europe and selected export markets.
Powerpipe Systems cooperates closely with its customers to continuously develop and improve engineering techniques and product quality. The company was established in 1987, and today more than 60 employees are dedicated to ensuring swift and reliable deliveries and meeting customer demand.