Aspo Plc
Press release
June 4, 2024 at 10:00.
Aspo's subsidiary Telko expands its operations further via a strategic acquisition in Germany
Aspo's subsidiary Telko expands its plastics business to Western Europe through an acquisition of Polyma Kunststoffe GmbH & Co KG in Hamburg, Germany. The acquired company is a distributor of well-known engineering plastics. The acquisition provides Telko access to the German market, which is the biggest plastics market in Europe.
"The transaction strengthens our engineering plastics business and opens new markets for Telko in Germany and neighboring countries. This is yet another step of Telko's compounder strategy, which focuses on high value-added products and further growth towards our 8 % EBITA target," says Mikko Pasanen, Managing Director of Telko.
"With this acquisition, Telko is taking further steps to become a leading European player in the distribution of specialty products," says Rolf Jansson, CEO of Aspo Group.
The company's profitability has fluctuated between EUR 0.3 million and EUR 0.8 million in recent years. In 2024 net sales is expected to reach EUR 15 million and EBIT EUR 0.5 million. Telko's strong supplier relationships and customer expertise combined with Polyma's buisness portfolio create the prerequisites for significant business development. The current CEO Alexander Maul will remain as the company's CEO.
Telko aims to accelerate its growth through acquisitions to achieve its strategic goals across all three business areas, and it has a solid pipeline of potential acquisition candidates. The company remains confident in its ability to keep up the active M&A pace. Additionally, Telko will seek to strengthen its market share in existing markets through organic growth.
Aspo Plc
Rolf Jansson
CEO
Further information, please contact:
Rolf Jansson, CEO, Aspo Plc, tel. +358 400 600 264, rolf.jansson@aspo.com
Mikko Pasanen, Managing Director, Telko, tel. +358 40 743 6665, mikko.pasanen@telko.com
Distribution:
Nasdaq Helsinki
Key media
www.aspo.com
Aspo creates value by owning and developing business operations sustainably and in the long term. Our companies aim to be market leaders in their sectors. They are responsible for their own operations, customer relationships and the development of these aiming to be forerunners in sustainability. Aspo supports its businesses profitability and growth with the right capabilities. Aspo Group has businesses in 16 different countries, and it employs a total of approximately 700 professionals.
Attachment
- Aspo Plc Press Release (https://ml-eu.globenewswire.com/Resource/Download/13ac7739-0805-4af5-9b9b-203e87565536)
