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Kesko has agreed to acquire the Swedish Mark & Infra i Sverige AB (MIAB), a company specialising in the sales of water and sewage products. The acquisition will strengthen Onninen’s technical wholesale offering to Infra customers in Sweden.
Mark & Infra i Sverige AB was founded in 2014 and headquartered in Stockholm. In 2018, the company recorded net sales of €18.4 million and an EBIT for the period of €1.7 million. MIAB has a strong foothold in the Mälardalen region in three cities: Stockholm, Västerås and Örebro and its’ clients include international construction companies as well as larger nationwide and smaller regional construction firms. The company employs some 20 professionals.
K Group’s building and technical trade division operates in eight countries. In Sweden, the division operates 34 K-Bygg stores for professional builders and 17 K-rauta stores. In addition, Onninen Sweden is serving a wide range of customers within the Infra technical trade business. Kesko’s strategic objective is to strengthen the market position of its building and technical trade division in Northern Europe and to improve profitability in all operating countries.
“This acquisition is an example of our strategic objective to make selected acquisitions to strengthen our position especially among technical trade customers and professional builders. MIAB complements Onninen’s current growing Infra business in Sweden and expands our offering of water and sewage products considerably,” says Jorma Rauhala, President of the building and technical trade division and Deputy to Kesko’s President and CEO.
“We are very happy with this transaction as the strategic match is perfect between the companies. Together Mark & Infra and Kesko/Onninen can really compete with Dahl and Ahlsell that dominates the market today,” says Anders Elgemyr, Managing Partner at Carlsquare in Stockholm.
Carlsquare acted as the exclusive financial advisor to Mark & Infra i Sverige AB.