Teknos Group acquires Kemiflora’s paints and coatings business
On 25 January 2013, Teknos Group Oy acquired the entire share capital of Kemiflora Kaubandus OÜ from AS Kemiflora. Kemiflora Kaubandus OÜ is an affiliated company of AS Kemiflora, to which AS Kemiflora has transferred its entire paints and coatings business.
The acquisition is subject to approval by Estonia’s competition authorities. Teknos Group applied for the approval immediately after the signature of the business purchase agreement. Approval by the authorities is expected to be granted within 20 days, after which the acquisition can be finalised.
With the acquisition, Kemiflora’s entire paints and coatings business will be transferred to Teknos. AS Kemiflora will continue its operations in the real estate leasing business. Kemiflora has been involved in Estonia’s paints and coatings industry for many years, and has been a long-time importer of industrial and architectural coatings for Teknos. The annual turnover of Kemiflora’s paints and coatings business is more than EUR 5 million.
The acquisition strengthens Teknos’ position in Estonia, and provides an opportunity to expand the company’s existing operations in line with Teknos’ growth strategy. Wet paints and powder coatings for the metal industry, industrial wood coatings and architectural coatings represent Teknos’ most significant business segments in Estonia and globally.
In connection with the transfer of business operations to Teknos Group, Marko Kübarsepp will be appointed managing director of Kemiflora Kaubandus OÜ. The current personnel, excluding the previous owners of the company, will transfer to Teknos under their existing terms of employment. Kemiflora Kaubandus OÜ operates in Tallinn in business premises leased from AS Kemiflora. The company also has branch offices in Pärnu, Jõhvi, Tartu and Rakvere. After the acquisition is complete, the company will continue to operate as part of Teknos Group in the existing premises and its contact details will not change.
Teknos is one of Europe’s leading suppliers of industrial coatings with a strong position in retail and architectural coatings. Teknos has production in seven countries: Finland, Sweden, Denmark, Germany, Poland, Russia and China. In addition, Teknos has sales companies in 16 countries and exports to over 20 countries via a well-established network of dealers.
Teknos employs around 1000 staff, with over 150 working in research and development. Group turnover is about EUR 250 million. Teknos´ strength lies in its strong technical knowledge, supported by sustained investment in R&D and a desire to become the preferred Paint Partner of all of its customers.
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