Iivari Mononen Group acquires Solør Agrotre AS
Iivari Mononen Group has today acquired Solør Agrotre AS, a Norwegian treatment and fencing post company specialized in providing treated wood products to agricultural and consumer markets in the Nordics and Western Europe. 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. 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. 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, the former owner
“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”, says Ari Mononen, CEO of Iivari Mononen Group.
Janne Monni has been appointed Managing Director of Solör Agrotre AS from 1 September 2019.
Iivari Mononen Group continues to expand its family-owned business with treated wood products and network service solutions. Our vision is to further strengthen our position in the European markets through profitable and sustainable growth, without compromising the high quality of products and services offered to customers.
The group operations are divided into two main business areas – the production of treated poles and timber under the Scanpole and PrimaTimber brands, and the planning and construction of network infrastructures under the Exsane brand. The turnover of Iivari Mononen Group was €59.9 million in 2018 and the group has 170 employees.