Through its subsidiary Sterner Stenhus Fasad, Fasadgruppen acquires the window replacement specialist Stilpro AB (“Stilpro”).

Stilpro is based in Gustavsberg and offers window replacements in connection with renovation projects in the Stockholm area. Among its customers are both large construction companies and individual tenant-owner associations, and Stilpro has on several occasions acted as a subcontractor for Sterner Stenhus Fasad. Stilpro has 2 full-time employees, and for the financial year 2020, its revenues amounted to approximately SEK 4.5 million.

The acquisition takes place in the form of a transfer of assets where Sterner Stenhus Fasad acquires the entire operations of Stilpro, including customer contracts, equipment, work tools, brand and employees.

Pekka Vehmas, Work Manager at Sterner Stenhus Fasad, said: “We are impressed by Stilpro’s work in previous joint projects and look forward to welcoming them to us. The acquisition strengthens our offering in Stockholm and provides us with skilled employees and a good network."

Mika Korpilahti, CEO of Stilpro, said: “We are happy to join both Fasadgruppen and Sterner Stenhus Fasad. Now we will be part of a bigger context and can work on even more exciting projects.”

Fasadgruppen is using existing cash to finance the acquisition. The completion of the acquisition is not subject to any conditions, and Stilpro will therefore immediately become part of Fasadgruppen.

© Modular Finance, source Nordic Press Releases