The building materials group HeidelbergCement is buying the precast contractor Kynningsrud Prefab, which has operations in Norway and Sweden. This sees HeidelbergCement expanding its geographical presence in Western Sweden, while Kynningsrud Prefab gains an owner that provides continued secure, good development for the business.
Kynningsrud Prefab manufactures and installs precast concrete for different kinds of buildings. The company is an established actor in the market for precast concrete in Western Sweden, Southern Norway and Oslo, with production facilities in Uddevalla and Fredrikstad. The business has 350 employees and annual net sales of around NOK 700 million.
The sale of Kynningsrud Prefab is taking place as a consequence of a generation shift within the Kynningsrud Group.
“We’re planning to focus more on our business areas for cranes, property development and construction in the future. It feels good to let an actor like HeidelbergCement take over the running of the precast business, as this provides a basis for continued secure, good development,” says CEO Pål Kynningsrud.
“With this acquisition, we achieve extended geographical coverage when it comes to precast. At the same time it makes us more flexible thanks to having more plants, which will benefit both the business and our customers,” says Jan Lagerstedt, MD of the Nordic Precast Group.
The precast concrete business within HeidelbergCement Northern Europe is organised under the company Nordic Precast Group and currently consists of Abetong and Contiga group, with operations in Scandinavia, Germany, Poland and Latvia. The acquisition of Kynningsrud Prefab is being implemented through the acquisition of 100 per cent of the shares in the parent company Kynningsrud Prefab Holding AS.
The business areas Crane, Property Development and Construction within Kynningsrud are not included in the acquisition.
The transaction will be completed on the condition that the competition authorities in Sweden and Norway give their approval.
For further information, please contact:
Pål Kynningsrud, CEO of Kynningsrud, tel. +47 908 71 965
Jan Lagerstedt, MD of Nordic Precast Group (HeidelbergCement), tel. +46 70 579 37 66
HeidelbergCement is the global market leader in aggregates and a major operator in cement, concrete and other related activities. This makes HeidelbergCement one of the world’s largest manufacturers of building materials. The group has approximately 58,000 employees in 60 countries.
Kynningsrud has its head office in Halden and runs high-quality contracting operations in Norway and Sweden. The Kynningsrud Group currently has businesses within the areas of Crane, Prefab, Property Development and Construction, and has over 800 employees. Every day our work sees us lifting high, building solidly and managing sensibly, always with our vision as the main driving force: “It’s a pleasure to be of service!”