Frigaard Gruppen AS acquires 60 percent of the shares in steel construction company Metacon Industrimek AS. ”We will develop this industry, and will do more acquisitions going forward”, says Trond Frigaard, Chairman of Frigaard Gruppen.
“Metacon Industrimek is an exciting company that is well positioned in an industry with great opportunities going forward. Frigaard Gruppen has extensive expertise within the operation and development of industrial companies, and together we will create an even more powerful company within the steel construction market”, says Trond Frigaard.
Metacon Industrimek has grown rapidly in recent years and had a turnover of 126 million and operating profits of 4.1 million in 2014. The company, which currently has 50 employees, has production facilities in Rakkestad, as well as a project / sales department in Sarpsborg.
Frigaard Gruppen acquires shares in Metacon Industrimek from Metacon Holding, a company owned by Lise-Mette, Trond, Lene-Marie and Andreas Aas. Metacon Holding will continue to own 40 percent of the shares in the company.
The Norwegian market for prefabricated steel deliveries is estimated at some 5.4 billion according to the Steel Federation (Stålforbundet). Frigaard believes the industry is facing major consolidation in the years ahead:
“The industry is characterized mostly by family owned companies, without any major industrial locomotives. We therefore have a clear ambition to be involved in consolidating the industry and will make more acquisitions going forward”, says Trond Frigaard.