Iivari Mononen Group acquires Solør Agrotre AS
Iivari Mononen Group has acquired Solør Agrotre AS, a Norwegian treatment and fencing post company. Solør Agrotre AS is specialized in providing treated wood products to agricultural and consumer markets in the Nordics and Western Europe.
The company was previously under the ownership of BEEM Industri & Eiendom AS and Bredesen Opset AS. The turnover of Solør Agrotre AS in the financial period of 2018 was 96.3 MNOK (9.7 MEUR) and the company has 29 employees.
Solør Agrotre AS will continue to operate in Kirkenær, Norway, as a subsidiary of ScanPole Group. The company will continue focusing on production of copper impregnated fencing posts to its current market areas.
Janne Monni has been appointed Managing Director of Solör Agrotre AS as of 1 September 2019. This business acquisition does not affect the other companies within the Iivari Mononen Group.
“For nearly 60 years Solør Agrotre AS had a local industrial ownership through BEEM Industri & Eiendom and Bredesen Opset AS. We are extremely happy to have come to a final acquisition agreement with Iivari Mononen. Over the past decade we have developed a strong and solid cooperation with Iivari Mononen Group within different areas of our business activities. We are confident that the Mononen Group will be a solid industrial owner of Solør Agrotre for the future, and the new ownership will strengthen the future position of the company which is good for all our employees as well as for the local community”, says Erik Lynne, CEO of BEEM Industri & Eiendom AS.
“The acquisition of Solør Agrotre AS strengthens our strategy in the wood business. The production plant in Kirkenaer allows profitable growth in both our pole business and timber business. We also gain notable synergies between the production in Kirkenaer and that by Burt Boulton & Haywood Ltd in Newport, UK. Our aim is to increase the production in Kirkenaer through our Group’s current sales channels”, tells Ari Mononen, CEO of Iivari Mononen Group.
More information: Ari Mononen, CEO
Iivari Mononen Oy, tel +358 400 803 040