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Tikkurila has agreed on the acquisition of the business of ISO Paint Nordic A/S, which focuses on developing, manufacturing and selling energy-efficient and environmentally sustainable coatings.
The acquisition will complement Tikkurila’s professional product range, technologies and expertise in energy efficient coating solutions and solutions, which extend the life cycle of structures. For example, the products reduce the amount of heating or cooling energy needed in buildings. "This acquisition supports our profitable growth strategy well. Demand for energy efficient and eco-efficient solutions has clearly grown in the recent years and we expect this positive trend to continue,” said Erkki Järvinen, President and CEO of Tikkurila. "Customers are expecting to receive increasingly comprehensive coatings solutions from one supplier. This acquisition also caters to their wishes and it is a logical extension to Tikkurila’s June purchase of the Swedish KEFA Drytech AB, which specialises in functional products, such as mould protection.”
ISO Paint Nordic is the market leader in its sector in Scandinavia. The revenue of the acquired business amounted to approximately E7.5M in 2013 and it has approx 20 employees. The company has a modern production facility in Lunderskov, Denmark and its products are sold in about 20 countries. In addition to the Nordic countries, its markets include Germany, France, UK, The Netherlands and Australia. ISO Paint Nordic is a family business established in 1999.