Wigge & Partners advises Ovako AB

Wigge & Partners has advised Ovako AB (publ) in connection with its acquisition from SSAB of steel and metals distributor Tibnor Oy in Finland.

The deal has been approved by the European Commission as well as the competition authorities in Finland and Estonia. Tibnor Oy purchases, warehouses, processes and distributes steel and other metals for the engineering, process and construction industries. The company has approximately 50 employees and sales amounted to EUR 66.6 million in 2013. Ovako is a leading European producer of engineering steel for customers in the bearing, transport and manufacturing industries. Net sales in 2013 amounted to EUR 850 million and the company had 2,995 employees.