Gonvarri has agreed to purchase Constructor Industry Division, a part of Constructor Group from Altor. Constructor Group will become a part of Gonvarri Steel Services.
Constructor Group is one of the largest suppliers of storage solutions in Europe. The Group markets its offerings under the Constructor, Kasten, Dexion and PSS brands. Constructor Group was acquired in 2007 by Altor Fund II (Altor).
“It has been an exciting ten years for Altor with Constructor Group,” says Pål Stampe, partner at Altor Equity Partners and Constructor board member. “We have been on a long journey together, and have seen a very positive development in recent years. We believe Gonvarri is an excellent and committed long-term owner.”
“We are delighted to welcome Constructor Group to Gonvarri Steel Services,” says Josu Calvo, CEO of Gonvarri. “This acquisition is a perfect fit for us, it further expands our offering and we look forward to continuing to grow and develop Constructor Group’s activities.”
The transaction is subject to customary regulatory requirements and approvals.
Gonvarri Steel Services has 36 mills in the automotive steel transformation, road safety, material handling and solar energy sectors in 16 countries and achieved revenues of more than €2.3 billion in 2016.
Gonvarri Steel Services is part of Gonvarri Steel Industries, a leading steel service centre and renewable energy component manufacturing company with more than 8,000 employees and revenues of more than €2.8 billion in 2016. Its strategy in the steel transformation business is based on the development of products and services with high added value, which allows it to establish closer relationships with its main customers.