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Constructor Group acquire HiLo/PSS Group
19-11-2008
Constructor Group acquire HiLo/PSS Group
Constructor Group AS, backed by Altor Equity Partners, has today reached an agreement with the shareholders of HiLo / PSS Group to acquire 100% of the share capital of the HiLo / PSS Group. This agreement is subject to legal ratification with the relevant competition authorities but is expected to be completed in the next three to four weeks. During this time the businesses will continue to work independently.
The HiLo / PSS Group was formed through the acquisition of the two previously independent UK companies in 2004 and 2005. The group then set up a comprehensive pallet racking manufacturing facility in Romania which came on line in 2006. This facility works in conjunction with their UK manufacturing facility in Swindon in supplying both the UK market and progressively selling directly into Romania and surrounding countries. HiLo / PSS Group has combined a strong reputation for service and quality, in supporting both distributor routes to market and major projects direct to end users.
Constructor Group is a leading manufacturer and supplier of storage, archiving and logistics solutions. The Group trades under some of the most recognised and trusted brands in its various markets, including Constructor, Dexion, Bruynzeel and Kasten and manufacturers a wide range of products in its four facilities in Europe. With a turnover of approx. 320 million Euros and nearly 1000 employees, Constructor Group is a market leader in many European countries.
Constructor Group has an extensive sales network in Eastern Europe and has achieved solid growth in the region over recent years. The local manufacturing presence gained through this acquisition will considerably strengthen Constructor Group’s position and will further accelerate growth in these attractive markets.
Following the acquisition of Dexion Comino in 2005, Constructor Group has also successfully developed sales in the UK. Joining forces with HiLo / PSS will position the Group as a major force and will be ideally placed for further growth in the UK market.
Full press release
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